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A merchant makes a profit of 30% after offering a discount of 20% on h

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Math Expert
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A merchant makes a profit of 30% after offering a discount of 20% on h  [#permalink]

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New post 29 Jan 2019, 08:46
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A
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C
D
E

Difficulty:

  45% (medium)

Question Stats:

66% (01:57) correct 34% (02:12) wrong based on 56 sessions

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Re: A merchant makes a profit of 30% after offering a discount of 20% on h  [#permalink]

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New post 29 Jan 2019, 08:53
Bunuel 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?

A. 25%
B. 26%
C. 50%
D. 56%
E. 62.5%


Check this post on markup, discount and profit: https://www.veritasprep.com/blog/2011/0 ... nt-profit/

(1 + m/100)*(1 - d/100) = (1 + p/100)

(1 + m/100) * ( 1 - 20/100) = (1 + 30/100)

(1 + m/100) = 13/8 = ( 1 + 5/8)

m = 62.5

Answer (E)
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Re: A merchant makes a profit of 30% after offering a discount of 20% on h  [#permalink]

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New post 29 Jan 2019, 10:25
Bunuel 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?

A. 25%
B. 26%
C. 50%
D. 56%
E. 62.5%


for such question use direct formula as given by VeritasKarishma

(1+m/100) * (1-d/100)= (1+p/100)
m= markup price %
d= discount price %
p = profit %

(1+m/100)* (1-20/100) = (1+ 30/100)

solve for m
62.5%
IMO E
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Re: A merchant makes a profit of 30% after offering a discount of 20% on h  [#permalink]

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New post 01 Feb 2019, 08:05
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Bunuel 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?

A. 25%
B. 26%
C. 50%
D. 56%
E. 62.5%


We can assume he bought the item for $100 and sold it for $130. If we let x = the marked price, we can create the equation:

0.8x = 130

x = 130/0.8

x = 162.5

We see that the marked price is $162.5, which is a 62.5% markup from the price he paid for the item.

Answer: E
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Re: A merchant makes a profit of 30% after offering a discount of 20% on h  [#permalink]

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New post 27 Aug 2019, 09:43
Bunuel 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?

A. 25%
B. 26%
C. 50%
D. 56%
E. 62.5%



Let cost price be 100

then selling price with 30% profit : 130

But this 130 is 80% of discounted price ( 20% is discount)

So,

Discounted price : 130/80 * 100 = 162.5.

Difference : 162.5 - 100 = 62.5.

E is the correct answer.
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Re: A merchant makes a profit of 30% after offering a discount of 20% on h   [#permalink] 27 Aug 2019, 09:43
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