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A dealer marks his goods 20% above cost price. He then allows some discount on it and markets a profit of 8%. The rate of discount is?

12%
10%
6%
4%

Correct Answer: 10%

Explanation:

Let C.P. = Rs. 100
⇒ Marked price = Rs. 120,
⇒ S.P. = Rs. 108
∴ Rate of discount = (12/120) x 100% = 10%

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