Question
Download Solution PDFA person marks his goods x% above the cost price and allows a discount of 12% on the marked price. If his profit is 10%, then the difference between x% and the profit percentage is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Discount = 12%
Profit = 10%
MP is x% above the CP
Formula Used:
P = SP – CP
D = MP – SP
SP = {(100 + P%)/100} × CP
SP = {(100 – D%)/100} × MP
Where P is Profit, CP is cost price, SP is selling price, MP is maximum retail price and D is discount.
Calculation:
SP = {(100 + 10)/100} × CP
⇒ SP = (110/100) × CP
MP = {(100 + x)/100} × CP
SP = 88% of MP
⇒ SP = 88/100 × {(100 + x)/100} × CP
⇒ (110/100) × CP = 88/100 × {(100 + x)/100} × CP
⇒ 110 = 88 × (100 + x)/100
⇒ 1000 = 8 × (100 + x)
⇒ 125 = 100 + x
⇒ x = 25.
The difference between x% and the profit percentage = 25 - 10
⇒ 15%
The difference between x% and the profit percentage is 15%.
Last updated on Jul 17, 2025
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