If a company gives a discount of 20% on the marked price of an article and gains 20% on that particular article, then at what percentage above the cost price did the company mark its goods?
Answer & explanation
Correct answer: option 1
CP MP
100 - D% 100 + P%
100 - 20% 100 + 20%
80 120
Difference = 40
Markup = 40 × \(\frac{100}{100}\) = 50%