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Math Help - Profit & Loss

  1. #1
    777
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    Question Profit & Loss

    Hi Guys
    Can anyone solve these 2 questions ?

    1) A trader marks his goods at 20% above the cost price. If he allows a discount of 5% for cash payment, what profit percent does he make ?

    2) A shopkeeper marks his goods at 20% above his cost price. He sells three-fourths of his goods at the marked price. He sells the remaining good s at 50% of marked price. Determine his profit percent on the whole transaction.

    Also, please tell me the difference between Cost Price, Selling Price and most importantly "Marked Price"
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  2. #2
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    Quote Originally Posted by 777 View Post
    Hi Guys
    Can anyone solve these 2 questions ?

    1) A trader marks his goods at 20% above the cost price. If he allows a discount of 5% for cash payment, what profit percent does he make ?

    2) A shopkeeper marks his goods at 20% above his cost price. He sells three-fourths of his goods at the marked price. He sells the remaining good s at 50% of marked price. Determine his profit percent on the whole transaction.

    Also, please tell me the difference between Cost Price, Selling Price and most importantly "Marked Price"
    Cost Price: the price you buy your goods
    Selling price: the price you sell your goods for
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  3. #3
    Flow Master
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    Quote Originally Posted by 777 View Post
    Hi Guys
    Can anyone solve these 2 questions ?

    1) A trader marks his goods at 20% above the cost price. If he allows a discount of 5% for cash payment, what profit percent does he make ?

    [snip]
    x \longrightarrow x + (20 \%) x = x + \frac{1}{5} x = \frac{6}{5} x \longrightarrow \frac{6}{5} x - (5 \%) \frac{6}{5} x = \frac{6}{5} x - \left(\frac{1}{20}\right) \frac{6}{5} x = \frac{57}{50} x = x + \frac{7}{50} x.

    Therefore the trader makes a 14% profit when cash is paid.

    Quote Originally Posted by 777 View Post
    [snip]
    2) A shopkeeper marks his goods at 20% above his cost price. He sells three-fourths of his goods at the marked price. He sells the remaining good s at 50% of marked price. Determine his profit percent on the whole transaction.
    [snip]
    Won't it just be \left(\frac{3}{4}\right) (20\%) + \left( \frac{1}{4} \right) (\%50) = \, .... \%
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