Venus marked an article at 60% above its cost price. She sold it at a profit of 20%. Find the discount percentage offered on the article.
Answer & explanation
Correct answer: option 3
Let the cost price of the article = 100
Markup = 60%
Then the marked price = 160% of 100 = 160
Final profit earned = 20%
Selling price = 120
Discount % = (160 - 120) × \(\frac{100}{160}\) = 25%