Question

a dealer wants to make a profit of 30% after giving 20% discount on the marked price. What percent above the cost price should he mark the price of the article?

Answer 1

Answer:

Let his CP = 100.

SP = 100 + 20% of 100 = 120.

As he gets this 120 after allowing a 10% discount. So,

SP = MP - 10% of MP

120 = 0.9MP

MP = 120/0.9 = 133.33.

Now, Increased price = 133.33 - 100 = 33.33.

% Increased = (33.33 * 100)/100 = 33.33%.

Answer 2

CP(1+30/100)=MP(1-20/100)

CP ×(130/100)= MP(80/100)

MP/CP =(13/8)×100=162.5

PERCENTAGE ABOVE COST PRICE 62.5%