A shopkeeper allows a discount of 5% to his customers and still again 15 % Find the marked price of the article which costs 1500 rupees
Answers
Step-by-step explanation:
A tradesman allows a discount of 15% on the marked price. How much above the cost price should he mark his goods so as to gain a 19%?
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This structured approach would be helpful :
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 MP
MP - Discount = SP
SP - CP = Profit
Plugging in values, x - 0.15x = 119
=> 0.85x = 119
=> x = 119/0.85 = 140
Markup = 40/100 x 100 = 40%
Note : There are five variables involved in this type of question. If these variables are written strictly in above order, and any four variables are known, it is easy to determine the fifth.
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