Question

The marked price of a T-shirt is $200. After allowing a discount of 20percent on the marked price, the shopkeeper makes a profit of $16. Find the gain percent

Answer 1

Answer:

11.11 or 11 1/9.

Step-by-step explanation:

MP = $200.

Discount = 20%.

By SP formula,

SP = (1- d/100) ×MP

⇢ SP = (1- 20/100) × 200

⇢ SP = (1- 1/5) × 200

⇢ SP = 4/5 × 200

⇢ SP = 4 × 40

⇢ SP = $160.

Now, given that shopkeeper makes a profit of $16.

SP is $160. So, CP will be :-

CP = SP - Profit

⇢ CP = $160 - $16

⇢ CP = $144.

Now we are knowing CP, we can easily find the Profit/Gain%.

By Profit percent formula,

Profit% = Profit/CP × 100

⇢ Profit% = 16/144 × 100

⇢ Profit% = 200/18

⇢ Profit% = 100/9

⇢ Profit% = 11 1/9

⇢ Profit% = 11.11.

∴ Gain percent is 11.11 or 100/9 or 11 1/9.

Used Abbreviations

MP = Marked Price.

d = Discount%.

SP = Selling Price.

CP = Cost Price.

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