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A dealer offers a cash discount of 20% and still makes a profit of 20%, when he further allows 16 articles to a dozen to a particularly sticky bargainer. How much percent above the cost price were his wares listed?
Answer & Solution
Correct Answer:
Option
A
Let the CP of the article be Rs. x, since he earns a profit of 20%, hence SP = X + 20% of X = 1.2x
It is given that he incurs loss by selling 16 articles at the cost of 12 articles [loss = $$\frac{{16 - 12}}{{16}}$$ = 25%]
His selling price = SP - 25% of SP = SP × 0.75
Hence, SP × 0.75 = 1.2X
Or, SP = $$\frac{{1.2 \times {\text{x}}}}{{0.75}}$$ = 1.6X
This SP is arrived after giving a discount of 20% on MP.
Let MP = Y
Y - 20% of Y = SP
0.80Y = 1.6X
Y = 2X
It means that the article has been marked 100% above the cost price. Or Marked Price was twice of cost price.
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LoginFor dozen= 120
For 16 =160- cost price
160*120/100----192(Sp)
192*100/80------240(mp)
Mp of 1 article 240/12----20
Cp of 1 article 10.therefore 10/10×100
=100%(Ans)
Discount 20% + loss consider ( discount) 25%= total discount 40% and still profit 20%.
suppose, MP : 100 , SP after discount = (100-40)= 60 ,CP = 50
How much percent above the cost price were his wares listed =100-50/50 =100%
100+20=120
now 80*120/100=96
100-96=4%
16-12/16*100=25%
now 4%*25%=100%
CP : SP = 4 : 3 (Price)
MP*(4/5)*(3/4) = (6/5)*CP
⇒ MP : CP = 2 : 1
Above% = 1*(100/1) = 100%
M/c=2/1
2-1=1/1=100%