Question

By what percent must the cost price be increased in fixing the sales price so that after allowing a rebate of 10% the net profit is 20%?

Answer 1

Answer:

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Answer 2

Answer:

33.3 %

Explanation:

Consider cost price to be 100.

Now after giving rebate of 10%, seller should still be able to make a profit of 20%.  So article has to be sold at 120 to make 20% profit.

So assuming x was added to 100 (initial cost):

(100+x)- 10(100+x)/100=120

1000+10x-100-x=1200

900+9x=1200

x=33.3

Hence seller has to seller article for 133.3 to make a profit of 20 after giving 10% rebate. Hence he has to increase price by 33.3%