Quantitative Aptitude Profit and Loss Discount and MP

A shopkeeper decides to raise the marked price of an article by 40%. How much percentage discount should he allow to be able to sell the article at the original marked price?

1
24 (3)/(7) %
2
28 (4)/(7) %
3
31 (2)/(7) %
4
26 (3)/(7) %

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