How much percent above the cost price should a shopkeeper Mark his goods so that after allowing a discount of 20% on the marked Price , he gains 30%

Given: 

Discount $ \%=20 \%$

Gain $ \%=30 \%$

To do: 

We have to find how much percent above the cost price should a shopkeeper mark his goods so that after allowing a discount of 20% on the marked Price, he gains 30%.

Solution:

Let the cost price be Rs. 100.

This implies,

SP $=100+\frac{30}{100}\times100$

$=100+30$

$=Rs.\ 130$

Discount $ \%=20 \%$

This implies,

80% of MP $=$ SP

$\Rightarrow \frac{80}{100}\times MP=130$

$MP=\frac{130\times5}{4}$

$=162.5$

Therefore,

MP $= Rs.\ 162.5$

Hence, he should mark 62.5% above the cost price.

Tutorialspoint

e

Updated on: 10-Oct-2022

1K+ Views

Kickstart Your Career

Get certified by completing the course

Get Started