Amol raised the price of their products by 20 percent. How much discount should they give so as to sell the products on no gain no loss basis ?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 50/3 percent
Given that
The Price of the products has increased by 20%
Let the Price of the product is 100 units
then the new price of the product is 100 × 1.2 = 120 units
Now, the discount is given on the sale of this new price so that there is no gain or loss.
The discount percentage = [(120 - 100)/120] × 100
= 200/12 = 50/3 %