An article is marked 27% above its cost price. If x% discount is allowed on the marked price and still there is a profit of 6.68%, what is the value of x?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 16.
Let the CP = 100a
Marked price = 100a × 127% = 127a
By giving a discount of x% still a person able to make a profit of 6.68%.
SP of an article = 100a × 106.68% = 106.68a
Discount offered = 127a - 106.68a = 20.32a
Discount% = (20.32a/127a) × 100 = 16%
x = 16%