Question

XYZ send goods worth ` 1,00,000 to Y on consignment basis at 20% above the cost price. The goods are sold by the consignee on a mark of 15% on invoice price. Find the total mark up % over the cost price of the good​

Answer 1

Answer:

Total mark up % over the cost price of the good

1,00,000*20%

That is 1,20,000

Now again the good mark up to 15%

So finally,

120,000*115/100

= 138000

Answer 2

The total mark up % over the cost price of the good​ is $38\%$.

Explanation:

Given:

XYZ send goods worth ` 1,00,000 to Y on consignment basis at 20% above the cost price.

The goods are sold by the consignee on a mark of 15% on invoice price.

To Find:

The total mark up % over the cost price of the good​.

Solution:

invoice price of the  goods $=100000+ 100000\times \frac{20}{100}$

                                              $=100000(1+\frac{20}{100} )$

                                               $=100000(\frac{6}{5} )$

                                                $= 120000$

Selling price of goods by consignee  $=120000+ 120000\times\frac{15}{100}$

                                                               $=120000(1+\frac{3}{20} )$

                                                               $=120000\times \frac{23}{20}$

                                                              $=138000$

The total mark up % over the cost price of the good​

$=\frac{138000-100000}{100000} \times100$

$=\frac{38000}{100000} \times100$

$=0.38\times100$

$=38\%$

Thus,the total mark up % over the cost price of the good​ $38\%$.

PROJECT CODE #SPJ2