Question 110
A businessman allows a discount of 10 % on the marked price. What percent above the cost price must he mark his goods to make a profit of 17 per cent ?
Solution
Let M.P. = $$100x$$
Discounted amount = $$\frac{10}{100} * 100x = 10x$$
=> S.P. = $$100x-10x = 90x$$
Let C.P. = $$100y$$
Profit = $$\frac{17}{100} * 100y = 17y$$
=> S.P. = $$100y+17y = 117y$$
=> $$90x = 117y$$
=> $$x = \frac{13y}{10}$$
=> M.P. = 100 * $$\frac{13y}{10} = 130y$$
$$\because$$ C.P. = $$100y$$
=> Markup % = $$\frac{130y-100y}{100y}$$ * 100 = 30%
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