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Mahad marks an article 15% above the cost price of Rs. 540. What must be his discount percentage if he sells it at Rs. 496.80?

Correct answer: C. 20%

  • A. 18%
  • B. 21%
  • C. 20%
  • D. 19%
  • E. None of these

Explanation

The marked price is Rs. 540 x 1.15 = Rs. 621. The discount is Rs. 621 - Rs. 496.80 = Rs. 124.20, so discount percentage = (Rs. 124.20 ÷ Rs. 621) x 100 = 20%. A student may select 18% by calculating the discount as a percentage of the cost price rather than the marked price.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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