Paper 1 · Mathematical Reasoning and Aptitude
A dealer marks his goods 20% above the cost price. He then allows some discount and makes a profit of 8%. The rate of discount is
A4%
B6%
C10% ✓ Correct
D12%
Correct answer: (C) 10% — The rate of discount is 10%, so that is the answer.
Explanation
★The rate of discount is 10%, so that is the answer.
★Take the cost price as 100, so the marked price is 120.
★A profit of 8 per cent means the selling price is 108.
★The discount is the marked price minus the selling price, which is 120 minus 108, that is 12.
★The discount rate is 12 on the marked price of 120.
★That is 12 over 120, which is 10 per cent.
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