Question
Download Solution PDFA trader gains 12% after allowing a discount of 20% on the marked price of an article. Find his profit percentage if the article is sold at marked price allowing no discount.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Gain of 12% after a discount of 20%.
Formula Used:
Profit percentage = (Profit / Cost Price) x 100
Selling Price = Marked Price - Discount
Calculation:
Assume the Marked Price (MP) to be 100 units.
After a discount of 20%, Selling Price (SP1) is 80 units (100 - 20).
Profit of 12%,
⇒ Cost Price (CP) is SP1 / (1 + Profit%)
⇒ 80 / 1.12 = 71.43 units approximately.
Selling at the marked price, the new Selling Price (SP2) is 100 units.
Profit = SP2 - CP
⇒ 100 - 71.43 = 28.57 units.
Profit% = (Profit / CP) x 100
⇒ (28.57 / 71.43) x 100 = 40% approximately.
Therefore, the profit percentage when sold at marked price with no discount is 40%.
Last updated on Jun 30, 2025
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