The cost price of an article is 76% of its marked price. Find the gain percentage after allowing a discount of 5%.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 25%.
Assume marked price (MP) = 100
Cost price (CP) = 76% of MP = 76
Discount = 5% ⇒ Selling price (SP) = 95% of MP = 95
Gain = SP − CP = 95 − 76 = 19
Gain % = (Gain ÷ CP) × 100 = (19 ÷ 76) × 100 = 25%