Question 92

What percent on the cost price of an article should a business man mark onhis article so that he allows a discount of 30% on it and minimizes his loss to 2%?

Solution

Share

Let the marked price be MP. After giving a discount of 30% on it, loss incurred is 2% 
hence, we can say that 0.7MP = 0.98CP 
Thus MP = (0.98/0.7)CP = 1.4*CP 

Hence, marked price must be 40% above the cost price of the article 

Was this solution helpful?

Get AI Help

View More Questions From Quant

Create a FREE account and get:

  • Download Maths Shortcuts PDF
  • Get 300+ previous papers with solutions PDF
  • 500+ Online Tests for Free

CAT Quant Questions | CAT Quantitative Ability

CAT Number Systems QuestionsCAT Averages QuestionsCAT Venn Diagrams QuestionsCAT Mensuration QuestionsCAT Quadratic Equations Questions

CAT DILR Questions | LRDI Questions For CAT

CAT Quant Based LR QuestionsCAT Truth Lie Concept QuestionsCAT Miscellaneous LR QuestionsCAT Data Interpretation QuestionsCAT Data Interpretation Basics Questions

CAT Verbal Ability Questions | VARC Questions For CAT

CAT Grammar and Sentence Correction QuestionsCAT Verbal Ability QuestionsCAT Critical Reasoning QuestionsCAT Odd One Out QuestionsCAT Para Summary Questions

Free CAT Quant Questions

CAT Coordinate GeometryCAT ArithmeticCAT Averages, Ratio and ProportionCAT Progressions and SeriesCAT Simple Interest Compound InterestCAT MensurationCAT PercentagesCAT Profit and LossCAT Functions, Graphs and StatisticsCAT Venn DiagramsCAT Profit And LossCAT Averages Mixtures AlligationsCAT Number SeriesCAT Logarithms, Surds and IndicesCAT AveragesCAT GeometryCAT Time Speed DistanceCAT Linear EquationsCAT Time And WorkCAT Probability, CombinatoricsCAT LogarithmsCAT Number SystemsCAT AlgebraCAT Quadratic EquationsCAT MiscellaneousCAT Data SufficiencyCAT RemaindersCAT Time, Speed and DistanceCAT Inequalities

Book Free CAT Mentorship

Get personalized CAT strategy from a 99%iler

500+ students mentored
CAT mentor

Join CAT 2026 course by 5-Time CAT 100%iler

Start your IIM journey with the right preparation and crack CAT 2026.

Enroll Now
Ask AI