The marked price of a bed is ₹517, which is 30% above the cost price. If the profit percent is 2%. Find the discount percentage. (rounded off to two decimal places)​

Correct option is D

​Given:

Marked Price (MP) = ₹517

MP is 30% above the Cost Price (CP)

Profit Percentage = 2%

Formula Used:

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

Solution: 

Marked Price (MP) is 30% above the Cost Price (CP):

​$$517 = 1.3 \times \text{CP}$$​​

CP = $$\frac{517}{1.3} \approx 397.6923$$​​

Selling Price (SP) is based on the Cost Price and Profit Percentage:

SP = $$1.02 \times 397.6923 \approx 405.6461$$​​

Discount = $$517 - 405.6461 \approx 111.3539$$​​

Discount Percentage = $$\frac{111.3539}{517} \times 100 \approx 21.54\%$$ 

Alternate Solution: ​

Let CP be 100 

then MP = $$100 \times \frac{130}{100} = 130$$ 

Profit is 2% , so SP,

​$$=100\times\frac{102}{100} = 102$$ 

Discount % = $$\frac{130 - 102}{130}\times 100 \approx 21.54\%$$​​