Question

How much above the cost price should a dealer marks his goods, so that after allowing a discount of 10% on the marked price, he gains 8% ?

Answer 1

Answer:

20 %

Step-by-step explanation:

Let the MP of the article be x.

Then after allowing a discount of 10 %, Sp = 9x/10

Gain = 8%

Cp = (Sp * 100)/(100+Gain%)

= CP = (9x/10 *100)/108

= 90x/108 = 5x/6

MP-CP = x-5x/6= x/6

% above the cost price Mp is = (x/6/5x/6)*100

= 20 %