Q. 124.3( 33 Votes )
How much per cent above the cost price should a shopkeeper mark his goods so that after allowing a discount of 10% on the marked price, he gains 8%?
Let’s assume Cost Price of Product to be Rs.100.
Given he gains 8% on selling price would be
Selling Price = (100 + 8% of 100) = Rs.108
Discount = 10%
Let × be the marked price.
Market Price – Discount = Selling Price
x- (10% of x) = 108
× – x/10 = 108
9x/10 = 108
× = 120
Cost price is 100
Selling price is 108
Marked price is 120
So, Market Price is 20% above Cost Price.
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