Question

7. A dealer allows his customers 20% discount on the marked price of the goods and still gets a profit of 20%. What is the C.P. of goods for him marked at 1,000? ​

Answer 1

Answer:

If the marked price is 1000 and 20% discount is given, then its SP is 1000×(1-20/100)=1000×0.8=800

For 20% profit, SP=120 and CP=100

So for SP=800, CP=100×800/120=2000/3