A trader marked the selling price of an article at 40% above the cost price. At the time of selling, he allows certain discount and suffers a loss of 1%. He allowed a discount of :  Select the correct option
A) 10 % B) 7.8 % C) 11 % D) 12.5 % E) None
Sol.   Let C.P. = Rs. 100. Then, Marked Price = Rs. 140, S.P. = Rs. 99.   ∴ Discount % = [11/140 * 100] % = 7.8%   Answer 7.8 %
<result>B</result>
A trader marked the selling price of an article at 40% above the cost price. At the time of selling, he allows certain discount and suffers a loss of 1%. He allowed a discount of :