A person marks the price of his car 50% above the cost price. He gives a discount of B% and earns a profit of 10%. What is the approximate value of B?
Answer & explanation
Correct answer: option 1
CP MP
100 - B% 100 + P%
100 - B% 100 + 10%
100 - B% 110
\(\frac{15}{10}\) = \(\frac{110}{100 - B%}\)
\(\frac{3}{2}\) = \(\frac{110}{100 - B%}\)
3(100 - B%) = 220
B% = 26.67%