The marked price of an item is 25% above its cost price. A shopkeeper sells it, allowing a discount of x % on the marked price. If he incurs a loss of 8%, then the value of x is
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e 26.4%
Explanation:
Let the cost price of an article be 100.
Marked price = 100 × 125/100 = 125
Discount = x%
Loss = 8%
Selling price = 100 × 92/100 = 92
Selling price = marked price - discount
Discount = 125 - 92 = 33
x% = (33)/(125) × 100 = 26.4%