Understanding Markup Percentage Calculation
The question asks for the percentage above the cost price (CP) a shopkeeper should mark goods (Marked Price, MP) to achieve a specific profit (Gain) after offering a discount.
- Let the Cost Price (CP) be $100$.
- The desired Gain is $12\%$.
- The Discount offered is $25\%$.
Calculating Markup Percentage
First, determine the Selling Price (SP) needed to achieve the desired gain.
Using the formula $SP = CP \times (1 + \frac{Gain\%}{100})$:
$SP = 100 \times (1 + \frac{12}{100})$ $SP = 100 \times (1 + 0.12)$ $SP = 100 \times 1.12$ $SP = 112$Next, find the Marked Price (MP) based on the Selling Price (SP) and the discount percentage.
The formula relating SP, MP, and Discount is $SP = MP \times (1 - \frac{Discount\%}{100})$.
$112 = MP \times (1 - \frac{25}{100})$ $112 = MP \times (1 - 0.25)$ $112 = MP \times 0.75$ $MP = \frac{112}{0.75}$ $MP = \frac{112}{3/4}$ $MP = 112 \times \frac{4}{3}$ $MP = \frac{448}{3}$Now, calculate the percentage markup above the cost price.
Markup Percentage $= \frac{MP - CP}{CP} \times 100$
Markup Percentage $= \frac{\frac{448}{3} - 100}{100} \times 100$ Markup Percentage $= (\frac{448}{3} - \frac{300}{3}) \%$ Markup Percentage $= \frac{148}{3} \%$ Markup Percentage $= 49 \frac{1}{3}\%$Therefore, the shopkeeper should mark the goods $49 \frac{1}{3}\%$ above the cost price.
Similar Questions
- An item marked for ₹38,800 is available on a discount of 25% or two successive discounts of 10% and 15%. What is the difference between the selling prices in the discount schemes?
- A wholesaler gives a scheme discount of 10% on a marked price of ₹400. What is the selling price?
- A dealer offers successive discounts of 15% and 12% on a refrigerator marked at ₹25,000. What is the final selling price?
- The marked price of a shirt is ₹500. If the shopkeeper offers a 20% discount, what is the selling price of the shirt?
- If on a marked price, the difference between selling prices with a discount of 45% and two successive discounts of 30% and 20% is ₹84, then the marked price is _______.
- If a selling price of ₹36 results in a 10% discount on a list price, what selling price will result in a 20% discount on the list price?
- A salesman offers 20% additional discount, after offering an initial discount of 25% on the labelled rate of a laptop. If the final sale price of the laptop is ₹18,000, then what was its labelled rate?
- A man got a discount of 10% on sugar at Big Mart which allowed him to buy 25 kg more for ₹225/-. What is the discounted price and the original price of the sugar per kg?
- Rahul bought a sweater and saved ₹200 when a discount of 25% was given. What was the price of the sweater before the discount?
- After deducting a commission of 10% on the marked price, a T.V. set costs ₹9,090. What is its marked price?
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?
What will be the selling price of an article if two successive discounts of 15% and 12% are offered on its marked price of Rs. 25,500?
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?
Lekhana saves Rs. 15 on the purchase of a book when a discount of 20% is given. How much did she pay for the book?
What will be the selling price if three successive discounts of 10% is applied on an item marked at Rs 3000?
