Question : The marked price of an article is INR 10,927. Due to the festive season, a certain percentage of discount is declared. Raju buys an article at a reduced price and sells it at INR 10927, and makes a profit of 11.5%. What was the percentage discount offered?
Option 1: 10.3%
Option 2: 11.3%
Option 3: 11.5%
Option 4: 10.9%
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Correct Answer: 10.3%
Solution : The marked price of the article = 10927 The selling price of the article for Raju = 10927 Profit percentage = 11.5% We know that, Cost price = $\frac{\text {Selling price}}{1 + \frac{\text{Profit}}{100}}$ = $\frac{10927\times100}{111.5}=9800$ Required discount = $\frac{\text{Marked price – Cost price}}{\text{Mark price}} \times 100$ = $\frac{10927-9800}{10927} \times 100$ = $\frac{1127}{10927} \times 100=10.31$ Hence, the correct answer is 10.3%.
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