A shopkeeper wants to make a profit of 8% after giving a discount of 14%. At what approximate percentage above the cost price should he mark his goods?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 25.6%
Let's assume the cost price of the goods is 100y.
A shopkeeper wants to make a profit of 8% after giving a discount of 14%. selling price of the goods = 100y of (100 + 8)%
= 100y of 108%
= 100y × 108 / 100
= 108y
MRP of the goods of (100-14)% = 108y
MRP of the goods of 86% = 108y
MRP of the goods = (108y / 86 ) × 100
= 125.58y (approx.)
The approximate percentage above the cost price should he mark his goods = (125.58y - 100y) / 100y
× 100
= (25.58y /100y) × 100
= 25.58%
= 25.6% (approx.)