A retailer marks his goods 40% above the cost price. He allows a discount and still gains 19%. What was the discount percentage?

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Accepted Answer

1. Let cost be $C$. Marked price = $1.4C$ (40% above cost).

2. Selling price for 19% gain = $1.19C$.

3. Discount amount = $1.4C-1.19C=0.21C$.

4. Discount % = $\dfrac{0.21C}{1.4C}=0.15=15\%$.

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