Question : Sneha fixes the marked price of an item 40% above its cost price. What is the percentage of discount allowed to gain 12%?
Option 1: 34%
Option 2: 40%
Option 3: 20%
Option 4: 25%
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Correct Answer: 20%
Solution :
Let the cost price be Rs. 100.
So, marked price = Rs. 140
Profit = 12% of cost price
Selling price = cost price + profit = 100 + 12% of Rs. 100 = Rs. 112
Discount = marked price – selling price = Rs. 140 - Rs. 112 = Rs. 28
$\therefore$ Discount % = $(\frac{\text{Discount}}{\text{Marked price}})\times100=(\frac{28}{140}) × 100= 20\%$
Hence, the correct answer is 20%.
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