The marked price of an article is Rs.10,927. Due festive season, a certain percentage of discount is declared. Raju buys an article at reduced price and sells it at Rs.109,27, and makes a profit of 11.5%. What was the percentage discount offered?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 10.3%.
Given:
Marked price = Rs 10927
Profit = 11.5%
Selling price = 10927
Formula used:
SP = CP + CP × P%
Discount = MP - SP
Calculations:
Let the cost price be x.
⇒ 10927 = x + 11.5% of x
⇒ 10927 = 1.115x
⇒ x = 9800
Discount = 10927 - 9800 = 1127
Discount = (1127/10927) × 100 = 10.3%