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In the Bargain Bazar everyone purchase with a fair bargaining, so the traders markup the prices too much. A trader marked up an article at Rs. M expected huge profit if it is sold on the marked price. But a customer purchased it at M/2 with his fine bargaining skills, so the expected profit of the trader diminished by 66.66%. What is the percentage discount fetched by the customer through bargaining?
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- 33.33 %
- 50%
- 66.66%
- none of these
Correct Option: B
Let the CP be 100 and % mark up be k% then
MP = 100 + k
100 + k is also expected SP but actual SP = 100 + k / 2
∴ [(100 + k / 2)] / k = (200 / 3) x 100 (= 66.66%)
⇒ k = 300
∴ CP = 100 and MP = 400
Finally SP = 400 / 2 = 200
∴ Discount = 200 / 400 X 100 = 50%
