Profit and loss

Quantitative Aptitude (CGL)

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A person wants to sell his goods at 20% profit after allowing a discount of 16 2/3% on marked price. How much % above the cost price should he mark his article?

20%

36 2/3%

34 5/6%

44%

Explanation:

Solution:
Use formula:
MP = (100+p%)/(100-d%) * CP
OR
Profit%= 20% = 1/5 (profit = 1, CP = 5)
SP = CP+P = 5+1 = 6……(1)
Discount% = 16 2/3% = 50/3% = 1/6 (discount = 1, MP = 6)
Mp – discount = SP
6 – 1 = 5…………(2)
Make SP equal in both equations (1) and (2)
Multiply (1) by 5 and (2) by 6
so CP : SP : MP = 25 : 30 : 36
So see CP and MP, required % = (36-25)/25 * 100 = 44%

By: Pranav Gupta

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