The ratio of cost price to marked price of a shirt is 3 : 5. If a shopkeeper earned % profit on the sale of this shirt, then the discount given on the marked price was:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 20%.
Let CP = 3x
Then MP = 5x
Profit = 1/3 of CP → SP = CP + (1/3 of CP)
SP = 3x + (1/3 × 3x) = 3x + x = 4x
Discount = MP - SP = 5x - 4x = x
Discount % = (Discount / MP) × 100
⇒ (x / 5x) × 100 = (1/5) × 100 = 20%