Question
Download Solution PDFTo gain 8% after allowing a discount of 10%, by what percent must the marked price be hiked from the cost price?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDF
Given:
Gain = 8%
Discount = 10%
Formula used:
SP = CP + 8% of CP
SP = MP - 10% of MP
Calculation:
0.9x = 108
⇒ x = 120
Hike = (120 - 100)/100 × 100 = 20%
∴ Marked price must be hiked by 20% from the cost price.
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