The marked price of an article is 25% above its cost price. If it is sold for ₹450 with a profit of 6.4%, then the discount percent is closest to:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 15%.
The selling price of the article = 450
Profit = 6.4%
Cost Price = Selling Price × 100/(100 + profit %)
Cost Price = 450 × 100/106.4 = 422.9
Marked Price = 422.9 × 125/100 = 528.6
Discount % = (Marked Price - Selling Price)/Marked Price × 100
= (528.6 - 450)/528.6 × 100 = 14.9% = 15%