A trader allows a 40% discount on his goods, but he loses 30% on them. Find the percentage of the marked price above the cost price.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. %
Given that
Discount % = 40%
Loss= 30%
Let the cost price be 100 units
M.P. = S.P. × 100/(100 - D)
S.P. = C.P. × (100 - L)/100
S.P. = 100 × (100 - 30)/100 = 70 units
M.P. = 70 × 100/(100 - 40) = 7000/60 = 350/3
Hence, the required % = (350/3 - 100) = 50/3 = %