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The marked price of an item is 25% more than its selling price. The selling price of the same item is 20% more than its cost
price. The marked price of that item is what percentage more than its cost price?
45%
35%
50%
40%
- Let's break it down:
- Let the cost price be $C$.
- The selling price is 20% more than the cost price, so Selling Price = $C + 0.2C = 1.2C$.
- The marked price is 25% more than the selling price, so Marked Price = $1.2C + 0.25(1.2C) = 1.5C$.
- Now, calculate the percentage increase from the cost price to the marked price:
- Increase = Marked Price - Cost Price = $1.5C - C = 0.5C$.
- Percentage increase = $(0.5C/C) \times 100 = 50\%$.
- Checking options:
- Option 1: 45%
- Option 2: 35%
- Option 3: 50%
- Option 4: 40%
- Correct Answer: Option 3 - 50%
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