Question
A bag of cost price of Rs. 8000 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 20% in the transaction, then find the discount percent offered?Solution
ATQ, Selling price of the bag = 0.80 × 8000 = Rs. 6400 Let the markup percentage be x% and the discount percentage offered be 2x%. Therefore, Marked price = 8000 + x% of 8000 = Rs. (8000 + 80x) Discount = 2x% of (8000 + 80x) Therefore, selling price = 8000 + 80x – 160x = 6400 Or, x2+ 80x – 1600 = 0 On solving, x = −160 and 10 Therefore, Discount percentage = 2x = 20%.
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