Question

A shopkeeper allows a discount of 10% on the marked price and still gains 17% on the whole. find at what percent above the cost price did he Mark his goods

Answer 1

30% will be the answer

Answer 2

Given,

The shopkeeper shows a discount of selling books is 10%

His profit is 17%

We know that,

Marked Price (100 - discout in %) = cost price (100 + gain in %)

                               MP (100 - 10) = CP (100 + 17)

                                        MP (90) = CP (117)

                                                MP = 117/90 CP

MP = 1.3 CP by splitting we get (1 + 0.3) CP

MP is 0.3% more than CP,

So, Cost price must be 30% above.