A trader allows a discount of 10% on listed price. How much above the cost price he must mark to make a profit of 20%.
Solution(By Examveda Team)
Let the marked price be xLet the cost price be 100
Then the selling price = 100 + 20
Given that the dealer allows the discount of 10% on the marked price.
90% of x = 120
90/100 * x = 120
x = 12000/90
x = 133.33
Therefore the Marked price is 331/3% above the cost price.
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How 12000 devided by 90 gives 33.33 ?