An article is marked 27% above its cost price. If x % discount is allowed on the marked price and still there is a profit of 6.68%, then what is the value of x ?
Answer & explanation
Correct answer: option 3
Let the cost price = 100
Then, the marked price = 127
Now the profit = 6.68%
Means the SP is 106.68
So the discount = 127 - 106.68 = 20.32
Discount% = \(\frac{20.32 × 100}{127}\) = 16%