Question

shopkeeper marks his goods 20% is higher than the cost price and allows a discount of 5% the percentage of profit is

Answer 1

Let the cost price is 100.

FINDING MARKED PRICE -

Marked Price is 20 % above the Cost Price

= 100 x 20 % = 20

= 100 + 20 = 120 .

Marked Price = 120 .



FINDING DISCOUNT -

Discount on Marked price

120 x 5 % = 6.

Discount = 6.



FINDING SELLING PRICE -

SP = MP - Discount

SP = 120 - 6

SP = 114.

Selling Price = 114



FINDING PROFIT -

Profit = SP - CP

Profit = 114 - 100 = 14.

Profit = 14.



FINDING PROFIT PERCENTAGE -

Profit Percentage = Profit / CP x 100

Profit Percentage = 14 / 100 x 100

Profit Percentage = 14 %



Hence :

$\bold{Profit \: Percentage \: = \: 14 \%}$