A trader allows a discount of 18% on the marked price of an article. How much percentage above the cost price must he mark it so as to get a profit of 6.6%?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e 30.
| Understanding/Application |
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Let the cost price be Rs. 100 Profit = 6.6% Selling price = 100 + 6.6 = Rs. 106.6 Discount = 18% Let the marked price be 100% |
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Selling price = 100 - 18 = 82% 106.6 = 82% 100% marked price = (106.6 × 100)/82 = 130 Percentage above cost price he must mark = [(130 - 100) × 100]/100 = 30% |