Question

A Dealer marks his goods 20% above cost price. He then allows some discount on it and makes a profit of 8% . The rate of discount is?

Answer 1

Let the original price be x
then marked price = 120x/100 = 6x/5
Selling price (With 8% profit) = 108x/100
rate of discount = ((marked price - selling price)/marked price)*100
  =(((6x/5)-(108x/100))/(6x/5))*100 = ((18x/100)/(6x/5))*100 = 15%