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ICSE Class 8 Answered

How much percent above the cost price should a shopkeeper mark his goods so that after allowing a discount of 20% he still earns a profit of 20%?
Asked by mrutyunjay_sbi2002 | 22 Sep, 2018, 10:30: AM
answered-by-expert Expert Answer

Let sell price is S, Marked Price is M and Cost price is C

Profit = Sell Price - Cost Price = S - C

here sell price is after 20% discount on Marked Price = 0.8 * M

Now, target profit is 20% of Cost price = 0.2 *C

Keeping all the values in profit equation.

0.2 * C = 0.8 * M - C

Solve the above equation;

1.2 * C = 0.8 * M

M = 1.2/0.8 C = 1.5 C

Marked Price should be 1.5 times of Cost price to get the profit of 20% on product after sell.

That is 50% more than CP

Answered by Arun | 24 Sep, 2018, 01:05: PM
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