By how much percent a shopkeeper must mark his goods above its cost price so as by giving 15% discount, he earns a profit of 2%.
Answer & explanation
Correct answer: option 1
C.P. : MRP = (100 - Discount)% : (100 + Profit)%
= (100 - 15)% : (100 + 2)%
= 85% : 102%
= 5 : 6
C.P. = 5R
MRP = 6R
So, shopkeeper marks up his goods by = \(\frac{6R\;-\;5R}{5R}\)× 100% = 20%