Marked price of an article is 20% more than it’s cost price. At what percent less should it be sold for no profit and no loss ?
Answer & explanation
Correct answer: option 4
Let the CP = 100
Then the MP = 20% more than the CP = 120
Now , he should be sold at = (120 - 100) × \(\frac{100}{120}\) = $16\frac{2}{3}$% less for no profit and no loss.