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After allowing a discount of 20% on Marked price Kishore makes a profit of 12%. What percentage is the marked price above the Cost price?
- A40%
- B32%
- C25%
- D8%
Answer not set
Discussion 1
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CCommunity
Let the marked price (M.P.) be Rs. x.
Selling price (S.P.) = M.P. – Discount = x – (20% of x) = 0.8x
⇒ Cost price (C.P.) + Profit = 0.8x
⇒ C.P. + (12% of C.P.) = 0.8x
⇒ 1.12C.P. = 0.8x
⇒ C.P. = 5x/7
Difference between M.P. and C.P. = x – 5x/7 = 2x/7
% of M.P. above the C.P. = [(2x/7)/(5x/7)] × 100 = 40%
∴ % of M.P. above the C.P. = 40%
Selling price (S.P.) = M.P. – Discount = x – (20% of x) = 0.8x
⇒ Cost price (C.P.) + Profit = 0.8x
⇒ C.P. + (12% of C.P.) = 0.8x
⇒ 1.12C.P. = 0.8x
⇒ C.P. = 5x/7
Difference between M.P. and C.P. = x – 5x/7 = 2x/7
% of M.P. above the C.P. = [(2x/7)/(5x/7)] × 100 = 40%
∴ % of M.P. above the C.P. = 40%