Question 110

A businessman allows a discount of 10 % on the marked price. What percent above the cost price must he mark his goods to make a profit of 17 per cent ?

Solution

Let M.P. = $$100x$$

Discounted amount = $$\frac{10}{100} * 100x = 10x$$

=> S.P. = $$100x-10x = 90x$$

Let C.P. = $$100y$$

Profit = $$\frac{17}{100} * 100y = 17y$$

=> S.P. = $$100y+17y = 117y$$

=> $$90x = 117y$$

=> $$x = \frac{13y}{10}$$

=> M.P. = 100 * $$\frac{13y}{10} = 130y$$

$$\because$$ C.P. = $$100y$$

=> Markup % = $$\frac{130y-100y}{100y}$$ * 100 = 30%

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: