The marked price of an item is $$\frac{9}{8}$$​ of the cost price. How much percentage discount should be offered to get a profit of 3%?

Correct option is C

Given:

Marked price of book =$$\frac{9}{8}$$​th of Cost Price

Profit to be earned = 3%

Formula Used:

Selling Price = Marked Price - Discount

Discount Percent =$$\frac{Discount}{Discount \ Price} \times 100$$​​

Solution:

Let the Cost Price be 800

Then Marked price of article = $$\frac{9}{8}$$​ of 800 = ₹900

For a profit of 35 the item should be sold for = 800 + 3% of 800

= 800 + 24 = 824

Discount =900 - 824  = ₹76

Discount percentage = $$\frac{76}{900} \times 100 = 8.44\%$$