In a store, an item with marked price of ₹82,500 is available at a discounted price of ₹79,200. What is the percentage of discount given on that item?

To find the percentage of discount given on the item, we can follow these simple steps:

Step 1: Identify the given values.
Marked Price (MP) = ₹82,500
Discounted Price (or Selling Price, SP) = ₹79,200

Step 2: Calculate the discount amount.
The discount amount is the difference between the Marked Price and the Discounted Price:
$\text{Discount}=\text{Marked Price}-\text{Discounted Price}$
$\text{Discount}=82500-79200=3300$
So, the discount given on the item is ₹3,300.

Step 3: Calculate the discount percentage.
The discount percentage is calculated with respect to the Marked Price using the formula:
$\text{Discount Percentage}=\left(\frac{\text{Discount}}{\text{Marked Price}}\right)\times 100$

Substituting the values into the formula:
$\text{Discount Percentage}=\left(\frac{3300}{82500}\right)\times 100$

Simplifying the fraction:
$\text{Discount Percentage}=\frac{330000}{82500}=4\%$

Thus, the percentage of discount given on the item is 4%.