Question
Download Solution PDFA shopkeeper marks the price of an article 10% more than the cost price. After allowing discount, he earns 5% profit. The discount percentage is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Marked price = 110% of Cost price
Selling price= 105% of Cost price
Formula used:
Discount % = Discount×100/Marked price
Calculation:
Let the CP be Rs. 100.
Then, the MP will be Rs.110
The SP is Rs. 100 + 5% of 100 = 105
Now, Discount percentage
= Discount × 100/MP
= (110 - 105)×100/110
= 500/110
= 50/11
= 4.54%
∴ The Required discount percentage value is 4.54%.
Shortcut Trick
P = MP - D - MP × D/100
Where, P = Profit, D = Discount
⇒ 5 = 10 - D - 10D/100
⇒ -5 = - D - 10D/100
⇒ D = 50/11 = 4.54%
∴ The Required discount percentage value is 4.54%.
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