A merchant marked his goods 20% above the cost price and sold the goods at a profit of 8%. The rate % of discount is:
Explanation:
Let the CP be x then, MP = 1.2 x
SP = 1.08 x if y% discount is allowed, then (1.2 x) (1 – y%) = 1.08 x
⇒ (1 – y) = 0.9
⇒ y = 0.1 or 10%
Hence, option (b).
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