An article is marked 35% above its cost. If a profit of 20% is earned by selling the article, then the discount per cent offered on the marked price of the article is:
Let the cost price be Rs. 100x Marked price = Rs. 100x × (135/100) ⇒ Rs. 135x Selling price = Rs. 100x × (120/100) ⇒ Rs. 120x Discount = Rs. (135x – 120x) ⇒ Rs. 15x Discount% = (15x/135x) × 100% ⇒ 100/9%
Recently norms related to Minimum Alternative Tax (MAT) has been relaxed for companies facing insolvency process. The provision of MAT is in:
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