Question : A cap having a marked price of INR 90 is sold for INR 68. What is the percentage rate of discount (correct up to two decimal places)?
Option 1: 24.44%
Option 2: 25.37%
Option 3: 22.00%
Option 4: 23.22%
Correct Answer: 24.44%
Solution :
The marked price of the cap = INR 90
The selling price of the cap = INR 68
⇒ Discount = Marked price – Selling price = 90 – 68 = INR 22
Discount percentage = $\frac{\text{Discount}}{\text{Marked price}}\times 100 = \frac{22}{90}\times100= 24.44$%
Hence, the correct answer is 24.44%.
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