A shopkeeper wants to earn a profit of \(11\frac{1}{9}\%\) even after giving two successive discounts of \(16\frac{2}{3}\%\) and 20% on the marked price of an article. If the cost price of the article for the shopkeeper is ₹1800, what should its marked price be?
₹3000
First find the selling price from the required profit. A profit of \(11\frac{1}{9}\% = \frac{100}{9}\%\) gives \(SP = 1800 \times \left(1 + \frac{1}{9}\right) = 1800 \times \frac{10}{9} = 2000\).
Now relate the selling price to the marked price through the two successive discounts. A discount of \(16\frac{2}{3}\% = \frac{50}{3}\%\) leaves a factor of \(1 - \frac{1}{6} = \frac{5}{6}\).
A discount of 20% leaves a factor of \(1 - \frac{20}{100} = \frac{4}{5}\).
So \(SP = MP \times \frac{5}{6} \times \frac{4}{5} = MP \times \frac{2}{3}\).
Therefore \(2000 = MP \times \frac{2}{3}\), which gives \(MP = 2000 \times \frac{3}{2} = 3000\).
Hence, the marked price should be ₹3000.
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Important Questions from Discount and MP
If a trader marks the price of an article 50 percent more than the cost price and allows a discount of 30 percent, then what is his profit percentage?
Printed price of a mobile is Rs. 6,400. It is sold in Rs. 2,560 with two consecutive discount. If first discount is 20%, then what is the second discount?
A trader decided to mark his goods 15 percent above the cost price and then offered 40 percent discount. What will be the percentage of profit or loss?
On the sale of 20 percent discount, the value of an item is Rs. 760. What was the real value of the item?
What is the total discount applicable if 3 successive discounts of 20%, 10% and 12.5% are applied?
