Question : The marked price of the article is Rs. 5,000. But due to a special festive offer a certain percent discount is declared, Mr. X availed of this opportunity and bought the article at a reduced price. He then sold it at Rs. 5,000 and thereby made a profit of $11\frac{1}{9}\%$. The percentage of discount was:
Option 1: $10\%$
Option 2: $3\frac{1}{3}\%$
Option 3: $7\frac{1}{2}\%%$
Option 4: $11\frac{1}{9}\%$
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Correct Answer: $10\%$
Solution :
Let the cost price of the article for Mr. X as $x$.
Given that Mr. X sold the article at Rs. 5000 and made a profit of $11\frac{1}{9}\%$.
$⇒5000 = x + \frac{11\frac{1}{9}}{100}x$
$⇒5000=x+\frac{1}{9}x $
$⇒5000= \frac{10}{9}x$
$⇒x = \frac{5000 \times 9}{10} = 4500$
The marked price of the article = Rs. 5,000
The discount on the marked price = 5000 – 4500 = Rs. 500
The percentage of discount $=\frac{500}{5000} \times 100 = 10\%$
Hence, the correct answer is $10\%$.
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