A shopkeeper bought a machine for Rs. 4600 and spent Rs. 500 on its repair and transport. He marked the machine at 8% above the overall cost price. If he sold the machine for Rs. 4681 after giving x% discount, then the value of x is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 15
Total cost of Machine for shopkeeper = 4600 + 500 = 5100
MP of Machine = 5100 × 108/100 = 5508
SP of the Machine = 4681
5508 × (100 - x)/100 = 4681
On solving further we get,
5508 - 55.08x = 4681
55.08x = 5508 - 4681
x = 827/55.08
x ~ 15.