Question:
After allowing a discount of 11.11%, a trader still makes a gain of 14.28%. At how many percentage above the cost price does he mark his goods?
After allowing a discount of 11.11%, a trader still makes a gain of 14.28%. At how many percentage above the cost price does he mark his goods?
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When both discount and profit/loss are given, work with CP as base for easier calculation.
Updated On: Aug 6, 2025
- 28.56%
- 35%
- 22.22%
- None of these
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The Correct Option is B
Solution and Explanation
Let CP = 100. Profit = 14.28% $\Rightarrow$ SP = 114.28.
Discount = 11.11% on MP $\Rightarrow$ SP = MP $\times \frac{8}{9}$.
So, $114.28 = \frac{8}{9} \times MP \Rightarrow MP = 114.28 \times \frac{9}{8} \approx 128.565$.
Mark-up = $\frac{128.565 - 100}{100} \times 100 \approx 28.565%$.
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