Question 54

A dealer marks his goods 20% above cost price. He then allows some discount on it and makes a profit of 8%. The rate of discount is

Solution

Let the cost price of the goods = $$Rs. 100x$$

Markup % = 20%

=> Marked price = $$100x \times \frac{120}{100}=Rs. 120x$$

Profit % = 8 %

=> Selling price = $$100x \times \frac{108}{100}=Rs. 108x$$

Discount % = $$\frac{120x-108x}{120x} \times 100$$

= $$\frac{100}{10}=10\%$$

=> Ans - (C)

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