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1. After allowing a discount of 11.11%, a trader still makes a gain of 14.28%. At how many percent above the cost price does he mark on his goods?
(As Profit = 14.28%)
This profit is arrived after giving discount of 11.11% on the marked price.
Let the marked price be x
X - 11.11% of X = 114.28
X × = 114.28
X = = Rs. 128.56, which is more than 28.56% of CP.
Solution:
Let the CP be Rs. 100, then SP = 100 + 14.28% of 100 = Rs. 114.28(As Profit = 14.28%)
This profit is arrived after giving discount of 11.11% on the marked price.
Let the marked price be x
X - 11.11% of X = 114.28
X × = 114.28
X = = Rs. 128.56, which is more than 28.56% of CP.