A trader allows a discount of 18% on the marked price of an article. How much percentage above the cost price must he mark it so as to get a profit of 6.6%?
Answer & explanation
Correct answer: option 1
CP ∶ MP = (100 - D%) ∶ (100 + P%)
CP ∶ MP = (100 - 18) ∶ (100 + 6.6)
CP ∶ MP = 82 ∶ 106.6
Required percentage = \(\frac{106.6 - 82}{82}\) × 100
= 30%