Question 67

A trader allows a discount of 18% on the marked price of an article. How much percentage above the cost price must he mark it so as to get a profit of 6.6%?

Solution

Let the cost price be Rs.100.

Profit = 6.6% = 6.6

Selling price = 100 + 6.6 = Rs.106.6

Discount = 18%

Let the the marked price be 100%.

Selling price = 100 - 18 = 82%

106.6 = 82%

100%(marked price) = $$\frac{106.6}{82} \times 100$$ = 130

Percentage above the cost price must he mark = $$\frac{130 - 100}{100} \times 100 = 30$$%

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