Question

Vinit fixes the marked price of a shoe 28% above its cost price. What should be the approximate percentage of discount allowed to gain 6%?
1. 15%
2. 16%
3. 17%
4. 14%
5. 19%

Answer 1

Correct Answer - Option 3 : 17%

Given:

M.P = 28% above C.P

Gain = 6%

Formula Used:

Discount% = (M.P – S.P)/M.P × 100

Calculations:

Let the C.P of the shoes be 100.

∴ M.P = 28% of 100

⇒ 128

S.P = 6% of 100

⇒ 106

∴ Discount% = (M.P – S.P)/M.P × 100

⇒ (128 – 106)/128 × 100

⇒ 17.18 ≈ 17%

The discount allowed to gain 6% is 17%.