The marked price of an article is Rs. 5000. But due to special festival offer a certain percent of discount is declared. Mr. X availed this opportunity and bought the article at reduced price. He then sold it at Rs. 5000 and there by made profit of 100/9%. The percentage of discount allowed was?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1
Mr. X bought article at cost = (5000×100)/(100+100/9) = 4500
Discount % allowed was = (5000-4500)/5000 × 100 = (500×100/5000) = 10%