Question : A shopkeeper marks his goods 35% above the cost price. He then allows some discount on it. If he makes a profit of 14%, then the rate of discount is:
Option 1: 17.77%
Option 2: 15.55%
Option 3: 16.66%
Option 4: 14.44%
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Correct Answer: 15.55%
Solution :
Let $100x$ be the cost price.
Marked price = 35% above cost price = $135x$
Profit = 14% of cost price = $14x$
Selling price = Cost price + Profit = $100x+14x$ = $114x$
Amount discounted = Marked price – Selling price = $135x - 114x$ = $21x$
Discount % = $\frac{21x}{135x}×100$ = 15.55%
Hence, the correct answer is 15.55%.
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