Question

after allowing a discount of 10% on the marked price, a trader still makes a gain of 17%. By what percent is the marked price above the cost price?

Answer 1

let the marked price of the product be M and 10% discount of ⇒ M/10

⇒ selling price = M - M/10 = 9M/10

we know that Gain = (SP - CP)/CP ×100

substituting SP = 9M/10 and CP = CP we get 90M = 117CP

⇒ M = 117CP/90

The percent by which the Marked price is the above the Cost price is

= (M - CP)/CP × 100

substituting M = 117CP/90 in the above equation we get

= (27CP/90CP) × 100

= 30%