If the cost price of an item is $$\frac{5}{9}$$ of its marked price and the profit is 20% , then the percentage of discount is = ?

A. 20%

B. $$63\frac{1}{3}$$%

C. $$70\frac{1}{3}$$%

D. $$33\frac{1}{3}$$%

Answer: Option D

Solution(By Examveda Team)

let the Marked price of product = 900
∴ cost price will be = 900 × $$\frac{5}{9}$$ = 500
Profit = 20%
Selling price will be = 500 + 20% of 500 = 600
Discounted value = 900 - 600 = 300
Discount % = $$\frac{{100 \times 300}}{{900}} = 33\frac{1}{3}\% $$