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A shopkeeper buys certain goods at 20% discount from the wholesaler. The shopkeeper then marks a price on the goods that would fetch him 50% profit. What percentage discount should he offer on this marked price so that he sells the goods at the marked price of the wholesaler (i.e., the price at which the wholesaler usually sells his goods) ?
- a)10%
- b)16.67%
- c)20%
- d)25%
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A shopkeeper buys certain goods at 20% discount from the wholesaler. T...
Let the marked price of the wholesaler be Rs. x.
After 20% discount, shopkeeper buys the goods at Rs. 0.8x To fetch 50% profit,
Shopkeeper marks the goods at 0.8x + 0.4x = Rs. 1.2x
To sell the goods at the marked price of wholesaler, shopkeeper should offer
∴ discount of 0.2x Discount percentage = (0.2x/1.2x) x 100 = 16.67%
Hence, option 2.
After 20% discount, shopkeeper buys the goods at Rs. 0.8x To fetch 50% profit,
Shopkeeper marks the goods at 0.8x + 0.4x = Rs. 1.2x
To sell the goods at the marked price of wholesaler, shopkeeper should offer
∴ discount of 0.2x Discount percentage = (0.2x/1.2x) x 100 = 16.67%
Hence, option 2.
Most Upvoted Answer
A shopkeeper buys certain goods at 20% discount from the wholesaler. T...
To solve this question, let's consider the following steps:
Step 1: Determine the cost price of the goods for the shopkeeper.
Given that the shopkeeper buys the goods at a 20% discount from the wholesaler, it means he pays only 80% of the original price. Let's assume the original price of the goods is 'P'. Therefore, the shopkeeper's cost price (C.P.) would be 80% of P, which can be written as 0.8P.
Step 2: Determine the selling price at which the shopkeeper marks the goods.
The shopkeeper wants to make a 50% profit on the cost price. So, the selling price (S.P.) can be calculated as the cost price plus 50% of the cost price. Mathematically, it can be written as S.P. = C.P. + 0.5(C.P.). Substituting the value of C.P. from Step 1, we get S.P. = 0.8P + 0.5(0.8P).
Step 3: Determine the discount to be offered on the marked price.
The shopkeeper wants to sell the goods at the marked price of the wholesaler, which means the selling price should be equal to the original price of the goods (P). So, we need to find the discount percentage required to make the selling price equal to P.
Let's calculate the selling price (S.P.) from Step 2:
S.P. = 0.8P + 0.5(0.8P)
S.P. = 0.8P + 0.4P
S.P. = 1.2P
Now, we need to find the discount percentage required to make the selling price (S.P.) equal to P:
Discount = (S.P. - P) / S.P. * 100
Substituting the values, we get:
Discount = (1.2P - P) / 1.2P * 100
Discount = 0.2P / 1.2P * 100
Discount = 0.2/1.2 * 100
Discount = 1/6 * 100
Discount = 16.67%
Therefore, the shopkeeper should offer a discount of 16.67% on the marked price to sell the goods at the marked price of the wholesaler.
Hence, the correct answer is option (B) 16.67%.
Step 1: Determine the cost price of the goods for the shopkeeper.
Given that the shopkeeper buys the goods at a 20% discount from the wholesaler, it means he pays only 80% of the original price. Let's assume the original price of the goods is 'P'. Therefore, the shopkeeper's cost price (C.P.) would be 80% of P, which can be written as 0.8P.
Step 2: Determine the selling price at which the shopkeeper marks the goods.
The shopkeeper wants to make a 50% profit on the cost price. So, the selling price (S.P.) can be calculated as the cost price plus 50% of the cost price. Mathematically, it can be written as S.P. = C.P. + 0.5(C.P.). Substituting the value of C.P. from Step 1, we get S.P. = 0.8P + 0.5(0.8P).
Step 3: Determine the discount to be offered on the marked price.
The shopkeeper wants to sell the goods at the marked price of the wholesaler, which means the selling price should be equal to the original price of the goods (P). So, we need to find the discount percentage required to make the selling price equal to P.
Let's calculate the selling price (S.P.) from Step 2:
S.P. = 0.8P + 0.5(0.8P)
S.P. = 0.8P + 0.4P
S.P. = 1.2P
Now, we need to find the discount percentage required to make the selling price (S.P.) equal to P:
Discount = (S.P. - P) / S.P. * 100
Substituting the values, we get:
Discount = (1.2P - P) / 1.2P * 100
Discount = 0.2P / 1.2P * 100
Discount = 0.2/1.2 * 100
Discount = 1/6 * 100
Discount = 16.67%
Therefore, the shopkeeper should offer a discount of 16.67% on the marked price to sell the goods at the marked price of the wholesaler.
Hence, the correct answer is option (B) 16.67%.
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A shopkeeper buys certain goods at 20% discount from the wholesaler. The shopkeeper then marks a price on the goods that would fetch him 50% profit. What percentage discount should he offer on this marked price so that he sells the goods at the marked price of the wholesaler (i.e., the price at which the wholesaler usually sells his goods) ?a)10%b)16.67%c)20%d)25%Correct answer is option 'B'. Can you explain this answer?
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A shopkeeper buys certain goods at 20% discount from the wholesaler. The shopkeeper then marks a price on the goods that would fetch him 50% profit. What percentage discount should he offer on this marked price so that he sells the goods at the marked price of the wholesaler (i.e., the price at which the wholesaler usually sells his goods) ?a)10%b)16.67%c)20%d)25%Correct answer is option 'B'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about A shopkeeper buys certain goods at 20% discount from the wholesaler. The shopkeeper then marks a price on the goods that would fetch him 50% profit. What percentage discount should he offer on this marked price so that he sells the goods at the marked price of the wholesaler (i.e., the price at which the wholesaler usually sells his goods) ?a)10%b)16.67%c)20%d)25%Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper buys certain goods at 20% discount from the wholesaler. The shopkeeper then marks a price on the goods that would fetch him 50% profit. What percentage discount should he offer on this marked price so that he sells the goods at the marked price of the wholesaler (i.e., the price at which the wholesaler usually sells his goods) ?a)10%b)16.67%c)20%d)25%Correct answer is option 'B'. Can you explain this answer?.
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