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How much percent above the cost price should a shopkeeper mark his goods so as to earn a profit of 32% after allowing a discount of 12% on the marked price?
  • a)
    50%
  • b)
    40%
  • c)
    60%
  • d)
    45%
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
How much percent above the cost price should a shopkeeper mark his goo...
To find the percentage above the cost price that the shopkeeper should mark his goods, we can follow these steps:

Step 1: Let's assume the cost price of the goods is 100.

Step 2: The shopkeeper wants to earn a profit of 32%, which means he wants to sell the goods for 132 (100 + 32) after allowing a discount.

Step 3: The discount given is 12%, which means the goods will be sold for 88% of the marked price.

Step 4: Let's calculate the marked price. We know that 88% of the marked price is equal to 132.

Marked price * (88/100) = 132
Marked price = 132 * (100/88)
= 150

Step 5: Now, we need to find the percentage above the cost price that the marked price represents.

Marked price - Cost price = Profit
150 - 100 = 50

Percentage above cost price = (Profit/Cost price) * 100
= (50/100) * 100
= 50%

Therefore, the shopkeeper should mark his goods at 50% above the cost price in order to earn a profit of 32% after allowing a discount of 12% on the marked price.
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How much percent above the cost price should a shopkeeper mark his goods so as to earn a profit of 32% after allowing a discount of 12% on the marked price?a)50%b)40%c)60%d)45%Correct answer is option 'A'. Can you explain this answer?
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