Question 156

The printed price of an article is 40% higher than its cost price. Then the rate of discount such that he gains 12% profit is

Solution

Let C.P. = $$100x$$

Markup% = 40% => $$\frac{40}{100} * 100x = 40x$$

=> Marked price = $$100x+40x = 140x$$

Profit % = 12%

Profit = $$\frac{12}{100} * 100x = 12x$$

=> S.P. = $$100x+12x = 112x$$

Discount % = $$\frac{140x-112x}{140x}$$ * 100 = 20%

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