A trader keeps the marked price of an item 35% above its cost price. The percentage of discount allowed to gain 8% is
None
30%
25%
20%
Explanation:
Let the Cost Price (CP) = 100
Then Market Price = $\dfrac{100 \times 135}{100}$ = 135
If he wants to gain 8%, SP = $\dfrac{\left(100 + Gain\%\right)}{100} \times CP$ = $\dfrac{\left(100 + 8\right)}{100} \times 100 =$ 108
Discount % = $\dfrac{\left(135-108\right)}{135} \times 100$ = $\dfrac{2700}{135}$ = 20