Question

A shopkeeper allowed 10% discount on his goods to make 20% profit, & If he sold a watch for RS 10170 with 13 % vat, by what percent is the discount to be increased to make only 12% profit

Answer 1

Answer:

Let CP = 100

SP = 120 ( since gain is 20%)

Now 120 represents 90% of List Price

=> LP or MP = 120/90 x 100

SP if he gives 20% discount = 120/90 x 100 x 80/100 = 960/9

Profit = 960/9 - 100 = 60/9

Profit % = 60/900 x 100 = 6 2/3%