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A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the product, he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y?
- a)20
- b)16.67
- c)13.33
- d)12.5
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A shopkeeper gives a discount of 16% on the marked price of a product ...
Let the marked price of the product be Rs. 100.
The selling price = Rs. 84 The cost price = 84/1.2 = Rs. 70
The charges for the customer = 84 - 70 = 14
Hence, the percentage charge on the selling price = (14 / 84) x 100 = 16.67%
Hence, option 2.
The selling price = Rs. 84 The cost price = 84/1.2 = Rs. 70
The charges for the customer = 84 - 70 = 14
Hence, the percentage charge on the selling price = (14 / 84) x 100 = 16.67%
Hence, option 2.
Most Upvoted Answer
A shopkeeper gives a discount of 16% on the marked price of a product ...
16% discount =4/25. 20% gain=1/5
mp:sp. cp:sp
25 : 21. 5 : 6
mp:sp. cp:sp
25 : 21*2 5 : 6*7
50:42. 35:42
mp:sp:cp
50:42:35
profit =42-35=7
if customer returns the product he charges y% on sp which is equal to the profit value
so 7/42=1/6 =16(2/3)%=16.67%
mp:sp. cp:sp
25 : 21. 5 : 6
mp:sp. cp:sp
25 : 21*2 5 : 6*7
50:42. 35:42
mp:sp:cp
50:42:35
profit =42-35=7
if customer returns the product he charges y% on sp which is equal to the profit value
so 7/42=1/6 =16(2/3)%=16.67%
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Community Answer
A shopkeeper gives a discount of 16% on the marked price of a product ...
To solve this question, let's assume the cost price of the product is $100.
Given that the shopkeeper gives a discount of 16% on the marked price, the selling price after the discount would be 84% of the marked price.
Now, we know that the shopkeeper still gains 20% on the investment by selling the product. This means that the selling price is 120% of the cost price.
Let's calculate the selling price after the discount:
84% of the marked price = $100
Marked price = $100 / 0.84 = $119.04
Now, let's calculate the selling price after the shopkeeper gains a 20% profit:
120% of the cost price = $100
Selling price = $100 / 1.20 = $83.33
If the customer returns the product, the shopkeeper charges y% on the selling price.
Let's calculate the amount charged on the selling price:
y% of $83.33 = $83.33 * (y/100)
Since the shopkeeper does not lose his profit, the amount charged on the selling price should be equal to the cost price.
Therefore, we can set up the equation:
$83.33 * (y/100) = $100
Solving for y, we get:
y = (100 * 100) / 83.33
y ≈ 120
Therefore, the value of y is approximately 120, which is equivalent to 16.67% (option B).
Given that the shopkeeper gives a discount of 16% on the marked price, the selling price after the discount would be 84% of the marked price.
Now, we know that the shopkeeper still gains 20% on the investment by selling the product. This means that the selling price is 120% of the cost price.
Let's calculate the selling price after the discount:
84% of the marked price = $100
Marked price = $100 / 0.84 = $119.04
Now, let's calculate the selling price after the shopkeeper gains a 20% profit:
120% of the cost price = $100
Selling price = $100 / 1.20 = $83.33
If the customer returns the product, the shopkeeper charges y% on the selling price.
Let's calculate the amount charged on the selling price:
y% of $83.33 = $83.33 * (y/100)
Since the shopkeeper does not lose his profit, the amount charged on the selling price should be equal to the cost price.
Therefore, we can set up the equation:
$83.33 * (y/100) = $100
Solving for y, we get:
y = (100 * 100) / 83.33
y ≈ 120
Therefore, the value of y is approximately 120, which is equivalent to 16.67% (option B).
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A shopkeeper gives a discount of 16% on the marked price of a product and still gains 20% on the investment by selling a product. However, if customer returns the product, he charges y% on the selling price to the customer and still does not lose his profit. What is the value of y?a)20b)16.67c)13.33d)12.5Correct answer is option 'B'. Can you explain this answer?
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