Question

A merchant gets 17percent profit after giving 10% discount on the marked price of certain item by what percentage should the marked price be increased so that he will get 20% profit

Answer 1

Answer:

2.56 % (compare to Market price)

3.33 % ( compare to  cost price)

Step-by-step explanation:

Let say Marked Price = M

10 % Discount = (10/100)M = 0.1M

Selling Price = Marked Price - Discount

= M - 0.1M

= 0.9M

Let say Cost Price = C

17% Profit = (17/100)C = 0.17C

Selling Price = Cost Price + Profit

=> Selling Price = C + 0.17C

=1.17C

0.9M = 1.17C

=> M = 1.3C

let say Mn = new Marked Price

Selling Price = C + (20/100)C = 1.2C

0.9Mn  =  1.2C

=> Mn =     1.33C

increase in Marked price = 1.33c - 1.3C = 0.033C

% increase to Marked price = (0.033C/1.3C) * 100 = 2.56 %

% increase to Cost Price = (0.0333C/C) * 100 = 3.33 %