What is the discount rate percentage on a gift whose selling price is ₹420 after a reduction of ₹60 on its marked price?
Answer & explanation
Correct answer: option 2
Selling price of the article = 420
Discount = 60
Marked price = 420 + 60 = 480
So, the percentage of discount = 60 × \(\frac{100}{480}\) = 12.5%