A tradesman marks his goods with two prices, one for ready money and the other for 6 months credit. What ratio should two prices bear to each other, allowing 5% simple interest.
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Lets say the cost of goods is X.
Price: Marks his goods at 35% above the cost price: X+0.35X = 1.35X.
Discount of 15% = 1.35X - 0.15(1.35X) = 1.1475X
Profit = 1.1475X - X = 0.1475
Percentage of Profit = 14.75%
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