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Question 40

After allowing a discount of 11.11%, a trader still makes a gain of 14.28%. At how many percentage above the cost price does he mark on his goods?

Solution

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Let's say cost price is 100
gain = 14.28
selling price = 114.28
Marked price = x(say)
So $$x- \frac{11.11x}{100} = \frac{8x}{9} = 114.28$$
Or $$x = 128.52$$
So marked price is 28.52% more than cost price.
 

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