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%