Jacob marks his goods up by 75% and then offers a discount on the mark

Question

Jacob marks his goods up by 75% and then offers a discount on the marked price. The profit that he makes after offering the discount is 40%. What % discount did Jacob offer?

A. 15%
B. 20%
C. 25%
D. 35%
E. 75%

Kudos for a correct  solution .

mathivanan · Accepted Answer

let the cost price is 100
marked price is 175
selling price is 140
discount (35/175)*100=20%
correct option is B

D3N0 · Answer

Ans: B

Solution: let x is the cost price.
so profit 40% means final selling price = 1.40x

marked up price = 1.75x
let discount be r%
so

1.40x=1.75x(1 - r/100)

after solving the equation r= 20%

peachfuzz · Answer

Let original goods price=x let discount rate=y
after markup= (7/4)x
y/100 × (7/4)x =14/10 × x
y= 4/5

Discount is 1/5

Answer: B. 20%

giovannisumano · Answer

Let x be the original price and dp the discounted price

\frac{7x}{4} *dp =  \frac{7x}{5}

dp =  \frac{4}{5} , therefore the discount is 20%

ThatDudeKnows · Answer

Two ways:

First, Pieces of the Puzzle (work through the story finding one new piece of information at a time):
We can make up an initial cost. Since we are doing percents, let's use $100. He marks it up to $175. He sells for $140. The discount from $175 to $140 is $35. $35/$175 is 20%.
Answer choice B.

Second, algebra:
 \frac{1.75x-1.4x}{1.75x} = \frac{175x-140x}{175x} = \frac{35x}{175x} = \frac{35}{175} = \frac{1}{5} =   20%
Answer choice B.

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Jacob marks his goods up by 75% and then offers a discount on the mark

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