In order to maintain the price line, a trader allows a discount of 12 % on the marked price of goods in his ship. However, he still makes a gross profit of 32 % on the cost price. Find the profit percent he would have made on the selling price had he sold at the marked price.
Answers
Answer:
50% profit
Step-by-step explanation:
Let CP = 100
SP = 132.
This is after a discount of 12%, thus the marked price must be 132/0.88 = 150. Thus he is marking the product 50% above the cost price. Hence the profit will be 50%.
50 %
Let us assume the Cost Price to be Rupees 100.
Given:
If the cost price is Rupees 100 then the Selling Price would be:
= 100 + 32
= Rs. 132
Discount Percentage = 12 %
To Find:
The profit percent he would have made on the Selling Price had he sold at the Marked Price.
Calculating:
Formula that we use to calculate the Marked Price:
Marked Price (100- d%) = Cost Price (100+p%)
Substituting the values into the formula we get:
Marked Price (100-12) = 100 (100+32)
Marked Price (88) = 100 (132)
Taking 88 to the other side of the equation we get:
Marked Price = 132 x 100 / 88
Marked Price = 13200 / 88
Marked Price = Rs. 150
Therefore,the Marked Price is Rupees 150.
Calculating the Profit when the Article is Sold at Marked Price:
= Marked Price - Cost Price
Substituting the values into this formula we get:
= 150 - 100
= Rs. 50
Therefore, the Profit made when the Article is sold at Marked Price is 50 Rupees.
Here, he is marking the product 50 % over the CP.
Therefore, the profit would by 50 %.