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The marked price of an article is 54% more than its cost price. What should be the discount offered by the shopkeeper so that he earns a profit of 23.2%?
1. 15%
2. 20%
3. 10%
4. 5%

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Correct Answer - Option 2 : 20%

Given

Market price = Cost price + 54% of cost price

Formula used

Selling price = Market price - Discount

Selling price = Cost price + Profit

Calculation

Market price = x + 54% of x

⇒ 154x/100

let y is discount percent

Selling price = 154x/100 - (y% × 154x/100)

⇒ 154x/100 - 154xy/10000

Selling price = x + 23.2x/100

⇒ 123.2x/100

⇒ 123.2x/100 = 154x/100 - (154x/10000) × y

⇒ 123.2x/100 - (154x/100) = -(154x/10000) × y

⇒ - 30.8x/100 = - (154x/10000) × y

⇒ 30.8 × 100/154 = y

⇒ 20% = y

Discount percentage is 20%

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