Selling price of an article is 120 percent more than the value of discount. Selling price is what percent of the marked price?
Show answer & explanation
Correct answer: D
Explanation
Given:
The selling price (SP) is 120% higher than the cost price (CP).
By the formula:
SP = CP × (1 + 120/100)
SP = CP × 2.2
Let the marked price (MP) = 3.2CP
Percentage of SP to MP
(SP / MP) × 100
= (2.2CP / 3.2CP) × 100
= (2.2 / 3.2) × 100
= 0.6875 × 100
= 68.75%
Selling price = 68.75% of the marked price.