Question

If a dining table with marked price Rs. 6,000 was sold to a customer for Rs. 5,520, then the rate of discount allowed on the marked price of the table is:
1. 5%
2. 7%
3. 8%
4. 6%

Answer 1

Correct Answer - Option 3 : 8%

Given:

Marked price of table(MP) = Rs. 6000

Selling price of table(SP) = Rs. 5520

Formula used:

Discount = Marked Price – Selling Price

Discount% = (MP – SP)/MP × 100

Calculation:

Discount = 6000 – 5520 = 480

Discount% = 480/6000 × 100

⇒ 8%

∴ The rate of discount allowed on the marked price of the table is 8%