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A merchant who marked his goods up by 50% subsequently offered a discount of 20%. What is the percentage profit that the merchant make after offering the discount?
- a)30%
- b)125%
- c)20%
- d)25%
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
A merchant who marked his goods up by 50% subsequently offered a disco...
To make calculations easy, let us assume that the cost price = Rs 100 The merchant marks his goods up by 50%.
Therefore, his quoted price = cost price + mark up = Rs 100 + 50% of Rs 100 = 100 + 50 = Rs 1 50
Now, the merchant offers a discount of 20% on his quoted price Therefore, amount of discount = 20% of Rs 150 = 20% of 150 = Rs 30
Therefore, he finally sells it for Rs 150 – Rs 30 = Rs 120.
We assumed his cost to be Rs 100 and he sold it finally for Rs 120.
Therefore, his net profit = Rs 20 on his cost of Rs 100
Hence, his % profit = (20/100 × 100) % = 20%
Therefore, his quoted price = cost price + mark up = Rs 100 + 50% of Rs 100 = 100 + 50 = Rs 1 50
Now, the merchant offers a discount of 20% on his quoted price Therefore, amount of discount = 20% of Rs 150 = 20% of 150 = Rs 30
Therefore, he finally sells it for Rs 150 – Rs 30 = Rs 120.
We assumed his cost to be Rs 100 and he sold it finally for Rs 120.
Therefore, his net profit = Rs 20 on his cost of Rs 100
Hence, his % profit = (20/100 × 100) % = 20%
Most Upvoted Answer
A merchant who marked his goods up by 50% subsequently offered a disco...
Markup and Discount
To solve this problem, we need to use the formula for calculating the selling price after a markup and discount:
Selling Price = (1 + Markup) x Original Price x (1 - Discount)
Where Markup is the percentage increase in price, Original Price is the initial price of the goods, and Discount is the percentage reduction in price.
Calculations
Let's say the Original Price of the goods is $100.
Markup: The merchant marked up his goods by 50%, so the Markup is 0.5.
Selling Price after Markup:
Selling Price = (1 + Markup) x Original Price
Selling Price = (1 + 0.5) x $100
Selling Price = $150
Discount: The merchant offered a discount of 20%, so the Discount is 0.2.
Selling Price after Discount:
Selling Price = Selling Price after Markup x (1 - Discount)
Selling Price = $150 x (1 - 0.2)
Selling Price = $120
Profit Percentage:
Profit = Selling Price after Discount - Original Price
Profit = $120 - $100
Profit = $20
Profit Percentage = (Profit / Original Price) x 100%
Profit Percentage = ($20 / $100) x 100%
Profit Percentage = 20%
Therefore, the percentage profit that the merchant makes after offering the discount is 20%.
To solve this problem, we need to use the formula for calculating the selling price after a markup and discount:
Selling Price = (1 + Markup) x Original Price x (1 - Discount)
Where Markup is the percentage increase in price, Original Price is the initial price of the goods, and Discount is the percentage reduction in price.
Calculations
Let's say the Original Price of the goods is $100.
Markup: The merchant marked up his goods by 50%, so the Markup is 0.5.
Selling Price after Markup:
Selling Price = (1 + Markup) x Original Price
Selling Price = (1 + 0.5) x $100
Selling Price = $150
Discount: The merchant offered a discount of 20%, so the Discount is 0.2.
Selling Price after Discount:
Selling Price = Selling Price after Markup x (1 - Discount)
Selling Price = $150 x (1 - 0.2)
Selling Price = $120
Profit Percentage:
Profit = Selling Price after Discount - Original Price
Profit = $120 - $100
Profit = $20
Profit Percentage = (Profit / Original Price) x 100%
Profit Percentage = ($20 / $100) x 100%
Profit Percentage = 20%
Therefore, the percentage profit that the merchant makes after offering the discount is 20%.
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A merchant who marked his goods up by 50% subsequently offered a discount of 20%. What is the percentage profit that the merchant make after offering the discount?a)30%b)125%c)20%d)25%Correct answer is option 'C'. Can you explain this answer?
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