a shopkeeper buys goods at 19%off the list price. He wants to get a profit of 20%after allowing a discount of 10%. By what %should his M.P be greater than the original label price?
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Correct Answer - 8% profit. Choice (1)
Explanatory Answer
Let the label price be = Rs.100. The trader buys at a discount of 19%.
Hence, his cost = 100 - 19 = 81.
He wants to make a profit of 20%. Hence his selling price = 1.2 (81) = 97.2
However, he wants to get this Rs.97.2 after providing for a discount of 10%. i.e. he will be selling at 90% of his marked price.
Hence, his marked price M = 97.2 / 0.9 = 108 which is 8% more than the original label price.
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Answer:
Let the label price be =Rs.100. The trader buys at a discount of 19%.
Hence, his cost =100−19=81.
He wants to make a profit of 20%. Hence his selling price =1.2(
81)=97.2
However, he wants to get this Rs.97.2 after providing for a discount of 10%. i.e. he will be selling at 90% of his marked price.
Hence, his marked price M=
0.9
97.2
=108 which is 8% more than the original label price.
Step-by-step explanation:
The trader buys at a discount of 19%. Hence, his cost = 100 - 19 = 81. However, he wants to get this Rs. 97.2 after providing for a discount of 10%.
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