Question : Venus marked an article at 60% above its cost price, She sold it at a profit of 20%. Find the discount percentage offered in the article.
Option 1: 40%
Option 2: 15%
Option 3: 25%
Option 4: 75%
Correct Answer: 25%
Solution :
Let the cost price be 100.
Marked price = 100 + 60% of 100 = 100 + 60 = 160
Profit = 20% of 100 = 20
Selling price = cost price + profit = 100 + 20 = 120
Discount percentage
= $\frac{\text{marked price – selling price}}{\text{marked price}}$ × 100
= $\frac{160 – 120}{160}$ × 100
= $\frac{40}{160}$ × 100
= $25\%$
Hence, the correct answer is 25%.
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