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Question
A trader allows a discount of 12% on the marked price of the goods in his shop. He still makes a gross profit of 21% on the cost price. Find the profit percent, he would have made, had he sold the goods at the marked price.
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Solution
Let the cost price of the goods = Rs.100
Profit
= 21% of Rs.100
= Rs.21
∴ S.P.
= C.P. + Profit
= Rs. (100 + 21)
= Rs.121
Discount = 12%
`"S.P."/"M.P." = 1 - "D"/(100)`
⇒ `(121)/"M.P." = 1 - (12)/(100)`
⇒ `(121)/"M.P." = (88)/(100)`
⇒ "M.P." = `(100 xx 121)/(100)`
= Rs.137.5
Profit
= M.P. - C.P.
= Rs.(137.5 - 100)
= Rs.37.5
Profit % = 37.5%
He would have made a profit of 37.5% by selling at the market price.
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