Question : The marked price of mustard oil is 25% more than its cost price. At what percentage less than the marked price should it be sold to have no profit and no loss?
Option 1: 15%
Option 2: 20%
Option 3: 18%
Option 4: 22%
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Correct Answer: 20%
Solution :
Let the cost price be Rs. 100
Then, marked price = 25% of CP = Rs. 125
If the oil is to be sold at no profit and no loss, the selling price should be Rs. 100
$\text{Percentage decrease} = \frac{\text{Marked price – selling price}}{\text{Marked price}} \times 100$.
$= \frac{125-100}{125} \times 100 = 20$%
Hence, the correct answer is 20%.
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