A jeweller allows a discount of 16% to his customers and still gains 20%.

Solution:

The cost price of the ring is $R s 1190$.

Gain percentage $=20 \%$.

$\therefore$ Selling price $=\left\{\frac{(100+\text { gain } \%)}{100} \times C . P\right\}$

$=\left\{\frac{100+20}{100} \times 1190\right\}$

$=\frac{120}{100} \times 1190$ $=$ Rs 1428

Let the marked price be $x$.

Discount $=16 \%$ of Rs $x$

$=\frac{16 x}{100}$

SP = MP − Discount

$\Rightarrow 1428=x-\frac{16 x}{100}$

$\Rightarrow 1428=\frac{100 x-16 x}{100}$

$\Rightarrow 142800=84 x$

$\Rightarrow \frac{142800}{84}=x$

$\Rightarrow x=1700$

Therefore, the marked price of the ring is Rs 1700 .