SOLUTION: respected sir, could you plz help me to solvethis % problem.. 1]A merchant sells an item at a 20% discount ,making a gross profit of 20% of the cost.what % of the cost would the

Question 205197: respected sir,
could you plz help me to solvethis % problem..
1]A merchant sells an item at a 20% discount ,making a gross profit of 20% of the cost.what % of the cost would the gross profit on the item have been if it had been sold without the discount?
waiting for your reply.
thank u.
regards
Binita
Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
Let's make the price before the discount 1.00
With the 20% discount it sells for 1.00*.20=.80
On the .80 there is a 20% profit. Therefore .8*.2=.16 is profit. And .80-.16=.64 is the cost.
With the original price of 1.00 less the cost of .64 the profit is .36
.36/1.00=36% gross profit
.
Ed
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