An induction stove marked 3750 is available for 3200 after discount. Find the rate of discount.

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An induction stove marked 3750 is available for 3200 after discount. Find the rate of discount.

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14.67%

15.67%

16.67%

17.67%

answer is A.

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Detailed Solution

Concept-
By deducting the selling price from the marked price, first determine the amount of the discount offered on the induction. Next, use the formula for calculating the rate of discount, which is

, where M.P stands for the marked price.
We are informed that an induction stove has a listed price of RS. 3750 and a selling price of RS. 3200.
By deducting the selling price from the listed price, we may calculate the amount of the induction stove's discount.
Discount is defined as indicated price minus selling price.
The results of substituting the marked price and selling price are as follows: Discount = 3750 - 3200 = 550.
Determining the rate of discount.

, where M.P is the marked price, is the rate of discount.
To calculate the rate of discount, substitute RS. 550 for the discount and RS. 3750 for the marked price in the calculation above. Currently, the discount rate is,

Hence, the correct answer is option 1) 14.67%

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