Question 56

The marked price of an item is 25% above its cost price. A shopkeeper sells it, allowing a discount of x % on the marked price. If he incurs a loss of 8%, then the value of x is

Solution

Let the cost price of an article be 100.

Marked price = 100 $$\times$$ 125/100 = 125

Discount = x%

Loss = 8%

Selling price = 100 $$\times$$ 92/100 = 92

Selling price = marked price - discount

Discount = 125 - 92 = 33

x% = $$\frac{33}{125} \times 100$$ = 26.4%

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