Question : When an article is sold at a 5% discount, then there is a profit of 14%. If the discount is 11%, then what will be the profit?
Option 1: 7.6%
Option 2: 8.4%
Option 3: 7.2%
Option 4: 6.8%
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Correct Answer: 6.8%
Solution : Given: When an article is sold at a 5% discount, then there is a profit of 14%. Use the formulas, SP = MP – Discount CP = $\frac{100}{100+\text{Profit percent}}\times SP$ Profit percentage = $\frac{SP–CP}{CP}\times 100$ Where SP, CP, and MP are the selling price, cost price, and the marked price. Let the MP of an article be INR 100. Discount = 5% ⇒ SP = INR 100 – INR 5 = INR 95 Profit percentage = 14% ⇒ CP = INR $\frac{100}{100+14}\times 95$ ⇒ CP = INR $\frac{100}{114}\times 95=$ INR 83.3 For the discount of 11%, ⇒ SP = INR 100 – INR 11 = INR 89 Profit percentage $=\frac{89–83.3}{83.3}\times 100$ $=\frac{5.7}{83.3}\times 100=$ 6.8% Hence, the correct answer is 6.8%.
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