Question

An article is marked at a price which is 2 times its cost price. After allowing a certain discount on the marked price, the profit reduces to 15%. The discount(approx.) % is:
1. 15%
2. 22%
3. 42%
4. 66%

Answer 1

Correct Answer - Option 3 : 42%

Given:

MP = 2 × CP

Profit% = 15%

Formula used:

Gain = SP – CP

Gain% = Gain/CP × 100

Discount% = (MP – SP)/MP × 100

Calculation:

Let the CP be Rs. x

And the MP be Rs. 2x.

Gain% = 15%

SP = Rs. (115x/100) = Rs. 23x/20

Discount% = {(2x – 23x/20)/2x × 100}% = 42% (approx)

∴ required discount is 42% (approx).