Question
A trader marks his goods 60% above the cost price. He offers a certain discount on the marked price and earns a profit of 28%. (a) What discount percentage does he offer? (b) If he increases the discount by 10 percentage points, what will be his new profit percentage?
Solution
ATQ, Let cost price (CP) = Rs. 100. Marked price (MP) = 100 × 1.60 = Rs. 160. (a) Let discount = d%. Selling price S1 = 160 × (1 − d/100). Given profit = 28% ⇒ S1 = 100 × 1.28 = Rs. 128. So, 160(1 − d/100) = 128 1 − d/100 = 128/160 = 0.8 d/100 = 0.2 ⇒ d = 20%. (b) New discount = 30%. New selling price S2 = 160 × 0.70 = Rs. 112. Profit = (112 − 100)/100 × 100% = 12%. Answer: (a) 20% discount (b) 12% profit.
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