Question 169
A shopkeeper labelled the price of his articles so as to earn a profit of 30% on the cost price. He then sold the articles by offering a discount of 10% on the labelled price. What is the actual percent profit earned in the deal?
Solution
Let the cost price of the article is 100
In order to earn 30% profit, the shopkeeper will sell it for 130
Discount = 10% of 130 = 13
SP = 130-13 = 117
Profit % =$$\frac{117-100}{100}*100$$ = 17%
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