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Math Help - Cost Price and Marked Price

  1. #1
    Junior Member MoniMini's Avatar
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    Post 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.....
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  2. #2
    Super Member
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    Re: Cost Price and Marked Price

    Quote Originally Posted by MoniMini View Post
    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
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