Request a call back

Join NOW to get access to exclusive study material for best results

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
ICSE 8 - Maths
Asked by shreedevijeevanagi | 22 Feb, 2024, 03:09: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by kannigaparameshwari499 | 20 Feb, 2024, 06:50: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by Vivek42agrawal | 19 Feb, 2024, 10:46: AM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by Vivek42agrawal | 12 Feb, 2024, 11:43: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by Vivek42agrawal | 10 Feb, 2024, 10:46: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by hemalathakuyya | 07 Feb, 2024, 10:28: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by preeti20486 | 04 Feb, 2024, 06:48: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by tejalnayak1985 | 30 Jan, 2024, 08:05: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
ICSE 8 - Maths
Asked by avirajasthana2010 | 27 Jan, 2024, 12:02: PM
ANSWERED BY EXPERT ANSWERED BY EXPERT
Get Latest Study Material for Academic year 24-25 Click here
×