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Ravi marked an article 50% above its cost price. What percent discount should be given on the marked price to earn the given profit?
- 40%
- 30%
- 25%
- 20%
Correct answer: 20%
Solution
If the cost price is 100, then the marked price becomes 150. To earn the given profit of 20%, the selling price must be 120, so the discount on 150 is 30, which is 20% of 150.
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