The marked price of mustard oil is 25% more than its cost price. At what percentage less than the marked price should it be sold to have no profit and no loss?

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SSC CGL 2023 Tier-I Official Paper (Held On: 14 Jul 2023 Shift 1)
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  1. 15%
  2. 20%
  3. 18%
  4. 22%

Answer (Detailed Solution Below)

Option 2 : 20%
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Detailed Solution

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Given:

The marked price of mustard oil = 10% more than its cost price

Concept Used:

Discount Percentage = (MP - SP)/MP * 100

Calculation:

Let the cost price of mustard oil be Rs 100x.

So, Marked price = 100x + 25% of 100x

Marked price = 100x + 25x

= 125x

For no profit, no loss, Selling price = Rs 100x

Excess price = 125x - 100x

= 25x 

Discount percentage offered on MP = (Excess Price / MP) × 100

Discount percentage offered on MP = (25x / 125x) × 100

⇒ 20%

Therefore, the discount percentage offered on the market price to have no profit and no loss is 20%.

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