Question

    A shopkeeper increased the price of an article by ‘x’%

    above its cost price and then sold it after applying two successive discounts of 20% and 10%. If his overall profit from this transaction was 8%, determine the value of ‘x’.
    A 33.33% Correct Answer Incorrect Answer
    B 25% Correct Answer Incorrect Answer
    C 50% Correct Answer Incorrect Answer
    D 20% Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Let the cost price of the article = Rs. 100

    Marked price of the article = 100 × {(100 + x)/100} = Rs. (100 + x)

    Selling price of the article = (100 + x) × 0.80 × 0.90 = 108

    72 + 0.72x = 108

    0.72x = 36

    x = 50

    So, the value of ‘x’ = 50%

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