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A businessman marks his good at 40% above the cost price and allows a discount of 25%. What is his gain percent?
- a)5%
- b)10%
- c)15%
- d)20%
Correct answer is option 'A'. Can you explain this answer?
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Verified Answer
A businessman marks his good at 40% above the cost price and allows a ...
Let the cost price be Rs. 100
Marked price = Rs. 140
Discount = 25% of 140 =
Selling price = 140 – 35 = 105
Gain Percent = 105 – 100 = 5%
Marked price = Rs. 140
Discount = 25% of 140 =
Selling price = 140 – 35 = 105
Gain Percent = 105 – 100 = 5%
Most Upvoted Answer
A businessman marks his good at 40% above the cost price and allows a ...
Let CP =cost price,MP=marked price,SP=sale price
let us assume CP=100
then MP=140
discount is on MP
so discount is =(25/100)*140=35
SP= 140-35=105
Profit is SP-CP=5
Since CP=100
Profit is 5%
let us assume CP=100
then MP=140
discount is on MP
so discount is =(25/100)*140=35
SP= 140-35=105
Profit is SP-CP=5
Since CP=100
Profit is 5%
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Community Answer
A businessman marks his good at 40% above the cost price and allows a ...
Understanding the Cost Price and Marked Price
To determine the businessman’s gain percent, we first need to define key terms.
- Cost Price (CP): This is the price at which the businessman purchases the goods.
- Marked Price (MP): This is the price at which the goods are marked for sale, which is 40% above the cost price.
Calculating the Marked Price
Let’s assume the cost price (CP) is 100.
- Marked Price (MP) = CP + 40% of CP
- MP = 100 + 40% of 100
- MP = 100 + 40 = 140
Applying the Discount
The businessman offers a discount of 25% on the marked price.
- Discount = 25% of MP
- Discount = 25% of 140 = 35
Now, we can calculate the selling price (SP):
- Selling Price (SP) = MP - Discount
- SP = 140 - 35 = 105
Calculating Gain Percent
Now we can find the gain by comparing the selling price to the cost price.
- Gain = SP - CP
- Gain = 105 - 100 = 5
To find the gain percent:
- Gain Percent = (Gain / CP) * 100
- Gain Percent = (5 / 100) * 100 = 5%
Conclusion
Thus, the businessman’s gain percent is 5%, which corresponds to option 'A'.
To determine the businessman’s gain percent, we first need to define key terms.
- Cost Price (CP): This is the price at which the businessman purchases the goods.
- Marked Price (MP): This is the price at which the goods are marked for sale, which is 40% above the cost price.
Calculating the Marked Price
Let’s assume the cost price (CP) is 100.
- Marked Price (MP) = CP + 40% of CP
- MP = 100 + 40% of 100
- MP = 100 + 40 = 140
Applying the Discount
The businessman offers a discount of 25% on the marked price.
- Discount = 25% of MP
- Discount = 25% of 140 = 35
Now, we can calculate the selling price (SP):
- Selling Price (SP) = MP - Discount
- SP = 140 - 35 = 105
Calculating Gain Percent
Now we can find the gain by comparing the selling price to the cost price.
- Gain = SP - CP
- Gain = 105 - 100 = 5
To find the gain percent:
- Gain Percent = (Gain / CP) * 100
- Gain Percent = (5 / 100) * 100 = 5%
Conclusion
Thus, the businessman’s gain percent is 5%, which corresponds to option 'A'.
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A businessman marks his good at 40% above the cost price and allows a discount of 25%. What is his gain percent?a)5%b)10%c)15%d)20%Correct answer is option 'A'. Can you explain this answer?
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