The marked price of an article is ₹10,927. Due festive season, a certain percentage of discount is declared. Raju buys an article at reduced price and sells it at ₹109,27, and makes a profit of 11.5%. What was the percentage discount offered?
Answer & explanation
Correct answer: option 1
11.5% = \(\frac{23}{200}\) = \(\frac{Profit}{CP}\)
SP of raju = 200 +23 = 223
If, 223x = 10927
Then, 200x = 9800 = CP of raju
MP= 10,927
Discount percentage = \(\frac{(10,927 - 9800 ) × 100}{10,927}\) = 10.3%