What was the percentage discount given on the marked price of an item?

Here is the OE

Solution:

Step 1: Analyse Question Stem

We need to find the percentage discount offered to her.
To find that, we would need the marked price and selling price of the item.

Step 2: Analyse Statements Independently (And eliminate options) – AD/BCE

Statement 1: The marked price of an item is 20 percent more than the C.P.
• \(MP = CP * ( 1 + \frac{20}{100} )\) ⟹ \(MP = 1.2 CP\)
• However, we don’t know the exact value of CP or MP. Hence, we won’t be able to find the percentage discount.
Hence, statement 1 is not sufficient and we can eliminate answer options A and D.

Statement 2: The selling price of the item after the discount is equal to $2,000
• \(SP = $2,000\)
However, we don’t know the value of the marked price. Hence, statement 2 is also not sufficient and we can eliminate answer B.

Step 3: Analyse Statements by Combining

From statement 1: MP = 1.2CP
From statement 2: SP = $2,000
We don’t know the value of CP, hence there is no way, in which we can find the value of MP.

Thus, the correct answer is Option E.