Profit and loss

Quantitative Aptitude ( CCS)

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A shopkeeper allows 2% discount and gives 1 article free on purchase of 6 articles. He earns 40% profit during the transaction. By what percent above the cost price he marked his good.

50%

60%

42 (6/7)%

66 (2/3)%

Explanation:

Discount=2%=1/50 MP:SP=50:49
Profit=40%=2/5=> CP:SP=5:7
MP:SP:CP=50:49:35
This 35 is the CP of (6+1)

the CP for 6 will be 30
(50-30)/30*100= 66 (2/3)%

Hence, option 4 is the correct answer.

By: Amit Kumar

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