Quantitative Aptitude Profit and Loss Discount and MP

The marked price of an article is Rs. 400. After allowing a discount of 20% on the marked price, a shopkeeper makes a loss of Rs. 48. His loss percentage is: 

1
\(13\frac{1}{23}\%\)
2
\(15\frac{1}{23}\%\)
3
\(17\frac{1}{23}\%\)
4
\(14\frac{1}{23}\%\)

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