Question

a shopkeeper marks his goods 20% higher than the cost price and allows a discount of 5%. the percentage of his profit is

Answer 1

Define x:

Let the cost price of the goods be x

Find the selling price with 20% gain:

Gain = 20% of x = 0.2x

Selling Price = x + 0.2x = 1.2x

Find the selling price after 5% discount:

Discount = 5% of 1.2x = 0.05(1.2x) = 0.06x

Selling Price after discount = 1.2x - 0.06x = 1.14x

Find the gain:

Gain = Selling Price - Cost Price

Gain = 1.14x - x = 0.14x

Find the gain percentage:

Gain percentage = (gain ÷ cost price) x 100

Gain percentage = (0.14x ÷ x) x 100

Gain percentage = 14%

Answer: The profit is 14%

Answer 2

Answer:

14%

Step-by-step explanation:

Let the cost price be Rs 100. The shopkeeper marks his goods 20% higher than the cost price.

So Marked price will be 100 x 20%

               which means 100 x 20 / 100 = Rs 20

      Now 100 + 20 = Rs 120

 he gives a discount of 5% on Rs 120

   So 5 / 100 x 120 = 6

Selling price = Marked price - Discount

                  = 120 - 6 = Rs 114

            profit = 114 -100 = Rs 14

So the shopkeeper gets a profit of Rs 14.

Now we have to find percentage profit

percentage profit = 14 / 100 x 100 = 14%

The percentage profit the shopkeeper gets is 14%