Question

After allowing a discount of 10% on the marked price, a trader still makes a profit of 17%. By what per cent is the marked price above cost price?​

Answer 1

Let's take the marked price as 100.

Discount allowed on the marked price = 10%.

Meaning SP ( selling price ) = 90.

So 90 = 117% of CP  ( cost price )

Therefore, CP (100 × 117)/90= 130.

So SP = 117% of CP which is equal to:

130 x 117% = 152.10

Now SP is equal to 90% of Marked Price.

So Marked Price = (100 x 152.10)/90 = 1521/9  = 169

MP = 169 .CP = 130 Difference = 39

% difference = 39/130 × 100 = 30%

And the answer to your question, goods were marked 30% above Cost Price.

Hope this helped you :)