The marked price of a cup is 20% more than its cost price. What can be the maximum discount given while selling the cup so that there is no loss incurred? [Give your answer correct to 2 decimal place.
Answer & explanation
Correct answer: option 3
Let the cost price = 100
Marked price according to the question = 20% more then CP
MP = 120
Maximum discount he can offer = 120 - 100 = 20
Discount% = 20 × \(\frac{100}{120}\) = 16.67%