Cost Price and Marked Price
Q. A dealer allows a discount of 10% and still gains 5%. What % above the cost price must he mark his goods?
a)15%
b)20%
c)16 2/3 %
d)50%
Hot to go about this sum?
90SP/100 = 9SP/10= Marked Price
(9SP/10 - CP)/CP = 5/100=1/20
9SP/10 - CP = CP/20
9SP/10 = CP/20 + CP=21CP/20
SP = (21CP x 10)/(20 x 9)=7CP/(2 x 3)=7CP/6
SP = 7CP/6
Okay....I'm getting muddled after this.....
Re: Cost Price and Marked Price
Quote:
Originally Posted by
MoniMini 
Q. A dealer allows a discount of 10% and still gains 5%. What % above the cost price must he mark his goods?
a)15%
b)20%
c)16 2/3 %
d)50%
Hot to go about this sum?
90SP/100 = 9SP/10= Marked Price
(9SP/10 - CP)/CP = 5/100=1/20
9SP/10 - CP = CP/20
9SP/10 = CP/20 + CP=21CP/20
SP = (21CP x 10)/(20 x 9)=7CP/(2 x 3)=7CP/6
SP = 7CP/6
Okay....I'm getting muddled after this.....
C=cost of item
Dealer wants 1.05 C
Selling Price =( 1.05/.9)*C =1.166 16 2/3 % mark-up
