Question 79
If a retailer offers a discount of 20% on the marked price of his goods and thus ends up selling at cost price, what was the % mark up?
Solution
Let markup percentage = x
$$\frac{100-20}{100} \times \frac{100+x}{100} \times (CP) = CP$$
$$\frac{80}{100} \times \frac{100+x}{100} = 1$$
$$(0.8)(1+0.01x) = 1$$
$$1+0.01x = 1/0.8$$
$$x = 25$$%
So the answer is option B.
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