Question

a shopkeeper allows a discount of 10% on the marked price. how much above the the cost price must be mark his goods to gain 8%

Answer 1

marked price (100-discoutn%)= costprice(100+gain%)

MP(100-10)=CP(100+8)

MP (90)=CP(108)

MP=108/90 CP

MP=1.2 CP => (1+0.2)CP

MP is 0.2% more than CP,so cp must be 20% above

ANSWER IS 20%

Answer 2

Answer: Marked price is 20% above than the cost price.

Step-by-step explanation:

Since we have given that

Discount % = 10%

Profit = 8%

We need to find the % above Marked price than the cost price.

As we know the relationship among them:

$M.P.=C.P.\times \dfrac{100+P}{100-Discount}\\\\\dfrac{M.P.}{C.P.}=\dfrac{100+8}{100-10}=\dfrac{108}{90}=\dfrac{12}{10}\\\\\dfrac{M.P.}{C.P.}=\dfrac{12}{10}$

So,% increase in marked price than cost price would be

$\dfrac{12-10}{10}\times 10\\\\=\dfrac{2}{10}\times 10\\\\=20\%$

Hence, Marked price is 20% above than the cost price.