Question

after allowing a discount of 20% on the Marked price of an article A shopkeeper makes a profit of 12% what percent is its marked price above its cost price

Answer 1

Answer: 40 percent above

Step-by-step explanation:

let mp be x and cp be 100

x-x/5 = 112

4x/5=112

x = 140

Answer 2

The marked price was above 40% of the cost price.

Step-by-step explanation:

Consider the provided information.

Suppose the Cost price is 100 and marked price is x.

Shopkeeper gives a discount of 20%.

$x-\frac{20x}{100}$

A shopkeeper makes a profit of 12%.

We know cost price is 100 and profit is 12% that means the selling price should be:

$100+\frac{12}{100}\times 100=112$

Selling price is and the price after discount is same.

$x-\frac{20x}{100}=112$

$x-0.20x=112$

$0.8x=112$

$x=140$

Hence, the marked price was 140.

We need to find the percent of marked price above its cost price.

$\frac{40}{100}\times 100=40$

Hence, the marked price was above 40% of the cost price.

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