The cost price of an article is 80% of its marked price for sale. How much per cent does the tradesman gain after allowing a discount of 12% ?
Marked price (MP) , Cost price (CP) , Selling price (SP) , Discount(D)
Let MP = 100
CP = $$ \frac{80}{100} \times 100 = 80 $$
Discount = 12%
SP = $$ MP \times \frac{100 - D}{100} $$
= $$ 100 \times \frac{88}{100} $$
= 88
P % = $$ \frac{SP - CP}{CP} \times 100 $$
= $$ \frac{88 - 80}{80} \times 100 $$
= 10
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