Question : Raghav purchased a shirt at Rs.1,500 and marked up the price of the shirt by 40%. What is the discount percentage he has to offer in order to get a profit of Rs. 75?
Option 1: 25%
Option 2: 15%
Option 3: 75%
Option 4: 50%
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Correct Answer: 25%
Solution : The cost price of the shirt is Rs.1,500. Raghav marked up the price of the shirt by 40%. Marked up price = Cost price + ($\frac{40}{100}\times$Cost price) Marked up price = 1500 + ($\frac{40}{100}\times$ 1500) = 1500 + 600 = 2100 Profit = Marked up price − Cost price = 2100 − 1500 = 600 Discount = Marked up price − (Cost price + Profit) Discount = 2100 − (1500 + 75) = 525 Discount percentage = $\frac{\text{Discount}}{\text{Marked up price}}\times100$ = $\frac{525}{2100}\times100=25$% Hence, the correct answer is 25%.
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