Question

A shopkeeper mark the price of bicycle Rs 5,000 of the lion discount of 10% on map price still he and 40%

Answer 1

A shopkeeper purchased a bicycle for rs 5000 and marked its price a certain percent above its cost price. He then sold it at a 10% discount. If a customer paid Rs 6356.25 with 13% VAT, what percent is the MP above the CP?

Lets say the final price of the bike is SP plus 13% VAT. So:

1.13 X SP = 6356.25

SP = 5625

Now SP was after 10% discount on Original Price, say MP. So:

0.9 X MP = 5625

MP = 6250

Hence the percent of MP above CP is:

(6250 - 5000) X 100/5000 = 25%