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A merchant makes a profit of 30% after offering a discount

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Manager
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A merchant makes a profit of 30% after offering a discount [#permalink] New post 25 Mar 2005, 11:54
A merchant makes a profit of 30% after offering a discount of 20% on his marked price. By what percentage did he mark his goods up before offering the discount?
50%
56%
26%
62.5%
25%
Senior Manager
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Re: profit [#permalink] New post 25 Mar 2005, 12:52
cloaked_vessel wrote:
A merchant makes a profit of 30% after offering a discount of 20% on his marked price. By what percentage did he mark his goods up before offering the discount?
50%
56%
26%
62.5%
25%


If the Cost Price = 100, he finally sells it for 130.
Therefore, if the marked price is x, 80% of x is 130
=> x = 130/0.8 = 162.5

Thus initial marked up price = 62.5%
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 [#permalink] New post 25 Mar 2005, 12:55
0,8p=1,3=>p=1,625=>62,5%
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Re: profit [#permalink] New post 25 Mar 2005, 12:57
cloaked_vessel wrote:
A merchant makes a profit of 30% after offering a discount of 20% on his marked price. By what percentage did he mark his goods up before offering the discount?
50%
56%
26%
62.5%
25%


"D"

let's say original price was 100.....and he marks it up by x%

so marked price now = 100+x

discount price = 100+x - (100+x)20/100 = 100+x - 20 - x/5 = 80 + 4x/5

selling price shud be 130

130 = 80 + 4x/5

50*5/4 = x

x = 12.5*5 = 62.5%
Manager
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 [#permalink] New post 28 Mar 2005, 06:16
D.

Lets say Original price was CP =100
Net profit merchant made = 30%, therefore Selling price SP=130
The selling price SP is after the marked price MP was reduced by 20%, therefore SP is 80% of MP.

130(SP) -- 80
MP ? -- 100

MP = 100 * 130 / 80 = 162.5

MP - CP = 162.5 - 100 = 62.5 :)
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  [#permalink] 28 Mar 2005, 06:16
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