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A shopkeeper allows 10% discount and still gains 8%. By how much percent above the cost price should he mark his goods?
20%
15%
25%
18%
20%
Use the direct ratio formula CPMPтАЛ=100тИТDiscount100+GainтАЛ to compute the marked price relative to cost price in seconds.
Discount = 10%, Gain = 8%
CPMPтАЛ=100тИТDiscount100+GainтАЛ
Use the direct ratio formula CPMPтАЛ=100тИТDiscount100+GainтАЛ to compute the marked price relative to cost price in seconds.
Students often mistakenly calculate profit percentage on the marked price or apply the discount directly to the cost price.
Assume Cost Price
Let the cost price of the goods be 100.
CP=100
Calculate Selling Price
Since the shopkeeper makes a gain of 8%, the selling price (SP) is 108 units.
SP=100+8=108
Determine Marked Price
A 10% discount is allowed on the marked price (MP), meaning SP=0.9├ЧMP. Solving for MP gives 0.9108тАЛ.
MP=120
Calculate Markup Percentage
The percentage above the cost price is 100120тИТ100тАЛ├Ч100%, which yields 20%.
Markup%=20%тИЧ
A is correct because the calculated markup percentage above the cost price is 20%.
Mastering the relationship between CP, SP, and MP is essential for solving complex multi-stage profit, loss, and discount problems in quantitative aptitude sections.
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