Question : A shopkeeper allows a discount of 20% on the marked price and still gains 12% on the whole. Find at what percentage above the cost price he marks his goods.
Option 1: 30%
Option 2: 10%
Option 3: 40%
Option 4: 20%
Correct Answer: 40%
Solution :
Let the cost price (CP) be 100.
The gain percentage is 12%.
So, the selling price (SP) = 100 + 100 × $\frac{12}{100}$ = 112
Now, discount = 20%,
So, the marked price (MP) × $\frac{(100-\text{discount percentage})}{100}$ = SP
⇒ MP × $\frac{(100-20)}{100}$ = 112
⇒ MP = $\frac{112×100}{80}$ = 140
Therefore, the required percentage = (140 – 100) = 40%
Hence, the correct answer is 40%.
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