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By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?
- a)5% profit
- b)1% loss
- c)10% profit
- d)4.5% profit
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
By selling an article at 80% of its marked price, a merchant makes a l...
Let the marked price be S and the cost price of the article be C.
When the merchant sells at 80% of marked price, he sells at 0.8S This results in a loss of 12%.
Loss is always computed as a percentage of cost price.
Therefore, the loss incurred by the merchant = 0.12C
Hence, he will be selling the article at C – 0.12C = 0.88C when he sells at 80% of his marked price.
Equating the two sides of the relation, we get 0.8S = 0.88C S = 1.1C
Now, if the merchant sells at 95% of the marked price, he will be selling at 95% of 1.1C = 1.045C
Hence, the merchant will make a profit of 4.5%.
When the merchant sells at 80% of marked price, he sells at 0.8S This results in a loss of 12%.
Loss is always computed as a percentage of cost price.
Therefore, the loss incurred by the merchant = 0.12C
Hence, he will be selling the article at C – 0.12C = 0.88C when he sells at 80% of his marked price.
Equating the two sides of the relation, we get 0.8S = 0.88C S = 1.1C
Now, if the merchant sells at 95% of the marked price, he will be selling at 95% of 1.1C = 1.045C
Hence, the merchant will make a profit of 4.5%.
Most Upvoted Answer
By selling an article at 80% of its marked price, a merchant makes a l...
To solve this problem, let's assume the marked price of the article is $100.
Given that the merchant sells the article at 80% of its marked price, he earns only 80% of $100, which is $80.
However, the merchant incurs a loss of 12% on this sale. This means that the cost price of the article is 12% more than the selling price.
Let's calculate the cost price:
Loss = 12% of the selling price
Loss = 12/100 * $80 = $9.60
Cost price = Selling price + Loss
Cost price = $80 + $9.60 = $89.60
Now, we need to find the percent profit made by the merchant if he sells the article at 95% of its marked price.
Let's calculate the selling price:
Selling price = 95% of marked price
Selling price = 95/100 * $100 = $95
Profit = Selling price - Cost price
Profit = $95 - $89.60 = $5.40
Now, let's calculate the percentage profit:
Percentage Profit = (Profit / Cost price) * 100
Percentage Profit = ($5.40 / $89.60) * 100
Percentage Profit ≈ 6.02%
Therefore, the merchant will make a profit of approximately 6.02% if he sells the article at 95% of its marked price.
However, none of the given options match this answer. It seems there might be an error in the provided options.
Given that the merchant sells the article at 80% of its marked price, he earns only 80% of $100, which is $80.
However, the merchant incurs a loss of 12% on this sale. This means that the cost price of the article is 12% more than the selling price.
Let's calculate the cost price:
Loss = 12% of the selling price
Loss = 12/100 * $80 = $9.60
Cost price = Selling price + Loss
Cost price = $80 + $9.60 = $89.60
Now, we need to find the percent profit made by the merchant if he sells the article at 95% of its marked price.
Let's calculate the selling price:
Selling price = 95% of marked price
Selling price = 95/100 * $100 = $95
Profit = Selling price - Cost price
Profit = $95 - $89.60 = $5.40
Now, let's calculate the percentage profit:
Percentage Profit = (Profit / Cost price) * 100
Percentage Profit = ($5.40 / $89.60) * 100
Percentage Profit ≈ 6.02%
Therefore, the merchant will make a profit of approximately 6.02% if he sells the article at 95% of its marked price.
However, none of the given options match this answer. It seems there might be an error in the provided options.
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By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer?
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By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer?.
By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer?.
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By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of By selling an article at 80% of its marked price, a merchant makes a loss of 12%. What will be the percent profit made by the merchant if he sells the article at 95% of its marked price?a)5% profitb)1% lossc)10% profitd)4.5% profitCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
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