Question

A tradesman allows a discount of 15% on the marked price. How much above the cost price must he mark his goods as to gain 19% ?

Answer 1

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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Answer 2

Answer: 40%

Step-by-step explanation:

Step by step in image