Question

how much percent above the cost price should a shopkeeper marks so that after allowing discount of 20% on mrp he gains 12%​

Answer 1

$\large\bf\underline \orange{Given:-}$

• Discount = 20%
• Gain on MP = 12%

$\large\bf\underline \orange{To \: find:-}$

• percent above the cost price should a shopkeeper marks so that after allowing discount of 20% on mrp he gains 12%

$\huge\bf\underline \green{Solution:-}$

Let the cost price be 100 and marked price be x

• Gain = 12% of 100

⠀⠀⠀⠀⠀⠀ ➝ Gain = 12×100/100

⠀⠀⠀⠀⠀⠀ ➝ Gain= Rs 12

• Selling price = Cost price + Gain

⠀⠀⠀⠀⠀⠀ ➝ selling price = 100 + 12

⠀⠀⠀⠀⠀⠀ ➝ selling price = Rs 112

• Discount = 20% of x

⠀⠀⠀⠀⠀⠀ ➝ Discount = x × 20/100

⠀⠀⠀⠀⠀⠀ ➝ Discount = x/5

• Selling price = marked price - Discount

⠀⠀⠀⠀⠀⠀ ➝ x -x/5 = 112

⠀⠀⠀⠀⠀⠀ ➝ 4x/5 = 112

⠀⠀⠀⠀⠀⠀ ➝ 4x = 112 × 5

⠀⠀⠀⠀⠀⠀ ➝ 4x = 560

⠀⠀⠀⠀⠀⠀ ➝ x = 560/4

⠀⠀⠀⠀⠀⠀ ➝ x = 140

Hence,

• Marked price = Rs 140

• Amount mrked above the cost price :-

⠀⠀⠀⠀⠀⠀ ➝ 140-100

⠀⠀⠀⠀⠀⠀ ➝ 40

Now,

• percentage of marked price:-

⠀⠀⠀⠀⠀⠀ ➝ 40× 100/100

⠀⠀⠀⠀⠀⠀ ➝ 40%

hence, the marked price is 40% above the cost price

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Selling price:- The price at which a thing is sold is known as it's selling price.

Cost price:- The amount paid to purchase a thing is known as it's Cost price.

Discount :- is a reduction given on marked or listed price of the article.

Answer 2

here there are two unknown quantity

So,we take mrp as x and cost price be 100

To gain 12percent interest SP should be=100×12/100+100=112

According to question

X-20x/100=112

4x/5=112

x=28×5=140

Marked price=140

Cost price=100

Difference=40

So, required percent=40/100 ×100=40

Hence shopkeeper have to mark 40percent above the cost price