Question : After giving a discount of 20% on an article, a shopkeeper gains 20%. What is the percentage markup?
Option 1: 75%
Option 2: 68.67%
Option 3: 50%
Option 4: 33.33%
Correct Answer: 50%
Solution :
Let the cost price of the article be 100.
Here, the profit is 20%.
So, the selling price of the article = 120
Let the marked price of the article be $x$.
According to the question,
80% of $x$ = 120
⇒ $x$ = 150
So, the percentage mark-up $=\frac {150 – 100}{100} = 50$%
Hence, the correct answer is 50%.
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