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A shopkeeper fixes the marked price of a pair of shoes 45% above its cost price. What is the percentage of discount allowed to gain 16 % ?


1. 30%
2. 25%
3. 15%
4. 20%

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Correct Answer - Option 4 : 20%

Given

A shopkeeper fixes the marked price of a pair of shoes 45% above its cost price

Formula used

MP(1 - D/100) = SP

SP = Selling price

MP = Marked price

D = Discount

SP = CP + Profit%

Calculation

Let Cost pice be 100

⇒ MP = 145

⇒ Profit = 16

⇒ SP = 116

⇒ Discount = 145 - 116 = 29

⇒ Discount% = (29/145)× 100

⇒ 20%

∴ Discount is 20%

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