Question 6220: a trader alows a discount of 10% on the marked price. However he still makes a profit of 17% on cost price.
Find (a) the profit % if sold at the merked price
(b) the profit % if he allows a discount of 5 % only on the marked price
Answer by ki(6)   (Show Source):
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a) 30%
b) 23.5%
If the marked price is x, then the sp = 0.9x
We dont know the cost price, so cp = y
If the profit is 17%, then
P = Sp Cp
Cp
0.17 = 0.9 x y
y
0.17 = 0.9 x 1
y
1.17 = 0.9x ______________ (1) this is the key step
y
Now, if it is sold at the marked price, then we know
Profit = Sp Cp = x - y = x 1
Cp y y
And if you substitute the value of y from (1), you will find that
Profit = x - 1 = 0.3 or 30%
0.9x
1.17
similarly, answer to (b) should be 23.5%
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