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      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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