a shopkeeper allows a discount 10% on the marked price . how much above the cost price must he mark his goods to gain 8%
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Let CP = 100
MP = x
Discount = 15%
SP = 119
Profit = 19
Facts :
MP is always marked up as a % of CP.Discount is always on MPMP - Discount = SPSP - CP = Profit
Plugging in values, x - 0.15x = 119
=> 0.85x = 119
=> x = 119/0.85 = 140
Markup = 40/100 x 100 = 40%
MP = x
Discount = 15%
SP = 119
Profit = 19
Facts :
MP is always marked up as a % of CP.Discount is always on MPMP - Discount = SPSP - CP = Profit
Plugging in values, x - 0.15x = 119
=> 0.85x = 119
=> x = 119/0.85 = 140
Markup = 40/100 x 100 = 40%
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