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Question 56
Marked price of an article is 20% more than it’s cost price. At what percent less should it be sold for no profit and no loss ?
Solution
Let the cost price of the article = C
$$\Rightarrow$$ Marked price of the article = $$\frac{120}{100}$$C = $$\frac{6}{5}$$C
For no profit and no loss, Selling price = Cost price = C
$$\therefore\ $$Required percentage = $$\frac{\frac{6}{5}C-C}{\frac{6}{5}C}\times100$$ = $$\frac{\frac{1}{5}C}{\frac{6}{5}C}\times100$$ = $$16 \frac{2}{3}$$%
Hence, the correct answer is Option A
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