Multiple choice

A shopkeeper fixes the marked price of an item 50% above its CP. The percentage of discount allowed to gain 20% is:

  1. $16.66%$
  2. $20.66%$
  3. $20%$
  4. $30%$
  5. $None of these$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

CP = 100 (assume), MP = 150. To gain 20%, SP = 120. Discount = MP - SP = 150 - 120 = 30. Discount % = 30/150 × 100 = 20%. This is a standard markup and discount problem where you work backwards from the desired profit.

Keep practicing — related questions