ANS: Marked price of the item = Rs.840
The S.P. of item = Rs.714
Discount given on the item = Rs.840 - Rs.714 = Rs 126
On Rs 840 discount given is Rs 126
On Rs 1 discount will be 126/840
On Rs 100 discount or discount % = (126/840)* 100 = 15%
Therefore, the discount is Rs 126 and the discount % = 15%