The cost price of a TV set is Rs 14000, and its marked price is Rs 16000. If the shopkeeper sells it at a gain of 8%, then what is the percentage rate of discount offered by him?
Show answer & explanation
Correct answer: D
Explanation
Given:
Cost Price = 14,000
Marked Price = 16,000
Profit = 8%
Selling Price = 14,000 × 108 / 100 = 15,120
Discount = 16,000 − 15,120 = 880
Discount % = (880 / 16,000) × 100 = 5.5%