Question

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at what percentage above the cost price must an article be marked so as to gain 33% after allowing a customer a discount of 5%?​

Answer 1

Answer:

3% benefit of discount each

Answer 2

Solution :

.First Let's talk about basic relation between cost price and selling price.

As we know that cost price is a 100% value and it always increases or decreases by same percentage value of profit or loss we face on cost price.

Selling price = cost price + % profit

To gain 33% profit, selling price should be 133%.

Now let's talk about basic relation between selling price and marked price.

Marked price is also a 100% value but it always decreases by same percentage value of discount we get on marked price.

Selling price = marked price - % discount

The selling price of 133% is a 95% value of marked price since we are getting a discount of 5% on marked price.

Marked price or 100% of this will be (133*100)/95 or 140%

Percentage mark up is calculated on cost price and marked price.

% mark up = marked price - cost price

Clearly we can see that to obtain a profit of 33% after allowing a discount of 5% the mark up should be (140–100) = 40%

Hope it's helpful to you...