Select the correct answerA shopkeeper fixes the marked price of an item 25% above its cost price. Find the percentage of discount allowed to gain 10%?Options34%19%12%None of these
Question
Select the correct answerA shopkeeper fixes the marked price of an item 25% above its cost price. Find the percentage of discount allowed to gain 10%?Options34%19%12%None of these
Solution
Let's solve this step by step:
- Let's assume the cost price of the item is $100.
- The shopkeeper marks up the price by 25%, so the marked price becomes $125.
- The shopkeeper wants to gain 10%, so the selling price should be $110.
- The discount given is the marked price minus the selling price, which is 110 = $15.
- To find the percentage of the discount, we divide the discount by the marked price and multiply by 100. So, (125)*100 = 12%.
Therefore, the correct answer is 12%.
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