Question

How much per cent above the cost price should a shopkeeper mark his goods so that after allowing a discount of 25 % on the marked price, he gains 20%?

Answer 1

Answer:

60%

Step-by-step explanation:

Let the marked price be 'x'.

(i) He allows a discount of 25% on the marked price.

So, discount = 25% of x

                     = (25/100) * x

                     = x/4.

Now,

Selling price = Cost price - Discount

                     = x - (x/4)

                     = 3x/4.

(ii) Let us assume that cost price is 100.

Given, Gain = 20%.

Selling price = 120.

But from (i), Selling price = (3x/4).

So, (3x/4) = 120

⇒ 3x = 480

⇒ x = 60

Therefore, the marked price is 60% above the cost price.

Hope it helps!

Answer 2

Let the C.P = Rs. 100

S.P = 120% of 100

= Rs. 120

M.P = 120×10075

= Rs. 160

Above% = 160−100100×100

= 60%