Question
A bag of cost price of Rs. 7000 is marked up by a
certain percentage, and a discount percent of twice the markup percent is offered on it. If there is a loss of 18% in the transaction, then find the discount percent offered?Solution
ATQ, Selling price of the bag = 0.82 × 7000 = Rs. 5740 Let the markup percentage be x% and the discount percentage offered be 2x%. Therefore, Marked price = 7000 + x% of 7000 = Rs. (7000 + 70x) Discount = 2x% of (7000 + 70x) Therefore, selling price = 7000 + 70x – 140x = 5740 Or, x2+ 70x – 1260 = 0 On solving, x = −120 and 10 Therefore, Discount percentage = 2x = 20%.
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