A grocer marked his goods at 70% above the cost price and sold them at a discount of X%. If he gained 53% profit, then find the value of X.​

Correct option is C

Given:

Marked Price = 70% above Cost Price

Profit = 53%

Discount = X% (to be found)

Formula Used:

Discount = MP − SP

Discount% = $$\frac{MP - SP}{MP} \times 100$$​​

Solution: 

Let Cost Price (CP) = ₹100 

Marked Price (MP) = CP + 70% of CP = ₹100 + ₹70 = ₹170

Selling Price (SP) = CP + 53% of CP = ₹100 + ₹53 = ₹153

Discount = 170 - 153 = 17

Discount % =$$\frac{17}{170} \times 100 = 10\%$$​​