5 Views

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%


Team Careers360 25th Jan, 2024
Answer (1)
Team Careers360 27th Jan, 2024

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%.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books