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Ashish Rehpade

· started a discussion

· 1 Months ago

Explain solution (Question: 187935.0 )

Please explain the solution for this.

Question:
A businessman allows a discount of 10% on the marked price. How much above the cost price must he mark his goods to make a profit of 17% ?
Options:
A) 30%
B) 20%
C) 27%
D) 18%
Solution:
Ans: (a)


Knowledge Expert

· commented

· 1 Months ago

Yes, please check out two more methods to solve the same problem.

Short Solution:
90% of x = 117% of x
So, required % = 30%


Long Solution:
If your businessman has a cost price of P, then to make a profit of 17% he should get at least 1.17P for his product.
Since he can give a discount of 10%, this 1.17P is 90% of the written price. Thus, the written price should be 1.17P/0.9=1.3P. This indeed corresponds with a written price that is 30% above the cost price.

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