Practicing Success
If the discount and profit percentage are both 20% by what percent is the marked price above the cost price?
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40% 50% 60% 70% |
50% |
Discount is always calculated on the marked price and profit is always calculated on the cost price. So, let MP = 100, so according to the question SP = 80 (After discount of 20% and including profit of 20%) CP = \(\frac{80 }{120 }\) x 100 = \(\frac{ 200}{3 }\) Marked price is above the cost price by 100 - \(\frac{ 200}{3 }\) = \(\frac{ 100}{3 }\) Therefore, percentage = \(\frac{ 100}{3 }\) / \(\frac{ 200}{3 }\) x 100 = 50% |