discount to the customers. Find mo
3. A shopkeeper wants to make a profit of 10.2% after allowing 5% discount to the cus-
tomers. What percent above the cost should he mark the price?
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1
Answer:
Let CP be the Cost Price and SP be the selling Price.
Profit=[SP-CP]/CP
0.102 =[(SP-.05SP)-CP]/CP
0.102=[0.95SP-CP]/CP
0.102CP=0.95SP-CP
0.102CP+CP=0.95SP
1.102CP=0.95SP
SP=[1.102CP]/0.95
SP=1.16CP as the selling price.
Therefore, the item must be increased to 16% for the Selling Price and offer 5 % discount, yet still gaining 10.2 % profit.
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