Question
Amit marked up an article of cost price Rs. 500 by certain percent and then sold it at discount of 20%. He suffered a loss of 12% in the whole transaction. Find the mark up percentage.
Solution
Selling price of the article = 0.88 × 500 = Rs. 440 Marked price of the article = 440/0.80 = Rs. 550 Required percentage = {(550 – 500)/500} × 100 = 10%
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