Question

The List Price of an item was kept 40% above what the shopkeeper had paid to the memfactwer. Ou seling
the item a profit of 8.64% was earned after allowing two successive discounts, the first one of which was
20%. What was the percentage rate of the second discount?

Answer 1

Answer:

Step-by-step explanation:

140 * (1 - 0.2) * (1 - x) = 108.64

x comes out 0.03

thus 3% is answer

Answer 2

Given:

List price of item = 40% more

Profit = 8.64%

First discount = 20%

To  Find:

The percentage rate of the second discount

Solution:

Let the cost price of the item be = Rs. 100

Thus, the MP will be = 100 + 40 = 140

Since profit is 8.64%,  

Therefore, SP = 100 + 8.64 = 108.64

Now, calculating total discount -

= MP - SP

= 140 - 108.64

= 31.36

Discount percentage -  

= 31. 36 x 100 / 140

= 3136/140

= 22.4

Since, first discount is = 20,

Thus, second discount will be =

22.4 - 20

= 2.4

Answer: The percentage rate of the second discount is 2.4%