Question : The marked price of a saree is Rs. 200. After allowing a discount of 20% on the marked price, the shopkeeper makes a profit of Rs.16. Find the gain percentage:
Option 1: $11\frac{1}{9}$%
Option 2: $9\frac{1}{11}$%
Option 3: $11$%
Option 4: $8$%
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Correct Answer: $11\frac{1}{9}$%
Solution : Selling price = 200 - 200×$\frac{20}{100}$ = Rs. 160 Cost price = Selling price – Profit = 160 – 16 = Rs. 144 Gain % = $\frac{Gain}{\text{Cost price}}×100 = \frac{16}{144}×100=\frac{100}{9}$ = $11\frac{1}{9}$% Hence, the correct answer is $11\frac{1}{9}$%.
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