The marked price of an item is 25% above its cost price. A shopkeeper sells it, allowing a discount of x % on the marked price. If he incurs a loss of 8%, then the value of x is
Answer & explanation
Correct answer: option 3
25 – m – (\(\frac{25m}{100}\)) = -8
25 – m – \(\frac{m}{4}\) = -8
\(\frac{5m}{4}\) = 33
m = \(\frac{132}{5}\) = 26.4%