A shopkeeper fixes the marked price of an item 50% above its cost price. What percentage of discount on the marked price should be allowed to gain 8%?​

Correct option is C

Given:

Marked Price (MP) = 50% above Cost Price (CP)

Required Gain = 8%

Find: Discount % on MP

Formula Used:

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

Solution: 

Let  = ₹100
Then,

MP = 150% of 100 = 1.5 × 100 = ₹150

SP = 108% of 100 = 1.08 × 100 = ₹108

Discount = 150 - 108 = ₹42

Discount % = $$\frac{42}{150} \times 100 = 28\%$$​​