Correct Answer: B) $14\frac{2}{7}\%$ Here's a step-by-step breakdown: **Step 1: Determine the Cost Price (CP).** The marked price (MP) is 40% above the cost price (CP). This can be expressed as: $MP = CP \times (1 + \text{Markup Percentage})$ Given $MP = ₹1400$ and Markup Percentage $= 40\% = 0.40$. $1400 = CP \times (1 + 0.40)$ $1400 = CP \times 1.40$ $CP = \frac{1400}{1.40}$ $CP = ₹1000$ **Step 2: Determine the Selling Price (SP).** The shopkeeper makes a profit of 20% on the cost price. This can be expressed as: $SP = CP \times (1 + \text{Profit Percentage})$ Given $CP = ₹1000$ and Profit Percentage $= 20\% = 0.20$. $SP = 1000 \times (1 + 0.20)$ $SP = 1000 \times 1.20$ $SP = ₹1200$ **Step 3: Calculate the Discount Percentage.** The selling price (SP) is obtained after applying a discount on the marked price (MP). This can be expressed as: $SP = MP \times (1 - \text{Discount Percentage})$ Let the Discount Percentage be 'D'. $1200 = 1400 \times (1 - D)$ $\frac{1200}{1400} = 1 - D$ $\frac{6}{7} = 1 - D$ $D = 1 - \frac{6}{7}$ $D = \frac{1}{7}$ To express this as a percentage: Discount Percentage $= \frac{1}{7} \times 100\%$ Discount Percentage $= 14.2857...\%$ This is equivalent to $14\frac{2}{7}\%$. Therefore, the discount percentage offered by the shopkeeper is $14\frac{2}{7}\%$.