Profit and Loss Practice Test 1

Question : 21 of 40

Marks: +1, -0

A merchant allows a discount of 20% on the marked price for the cash payment. To make a profit of 27%, he must mark his goods higher than their cost price by:

48.75%
58.75%
53.75%
57.85%

Validate

Solution:

Let the marked price = x
SP of goods = x - 20 % of x after discount

=x-x/5=4/5x

CP=100/{100+\gain%}×SP

=100/127×4/5x=80/127x

Increased per cent of cost

={x-80/127x}/{80/127x}×100

={127x-80x}/127×127/{80x}×100

={47x}/{80x}×100=58.75%

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