Question : A shopkeeper marked the selling price of his goods in such a way that after giving a discount of 10% he gains 17%. How much percent above the cost price is the marked price?
Option 1: 36%
Option 2:
27%
Option 3:
30%
Option 4:
40%
Correct Answer:
Solution : Let the cost price of the article be Rs. 100 and marked price be $y$. Selling price after discount = selling price after earning profit So, $y\times\frac{90}{100}=117$ ⇒ $y =\frac{117\times 100}{90}=$ Rs. 130 which is 30% more than the cost price. Hence, the correct answer is 30%.
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