After allowing a discount of 10% on the marked price, a trader still makes a gain of 17%. By what per cent is the marked price above the cost price?

Question

Philoid · Accepted Answer

Let’s assume Cost Price of Product to be Rs.100.

Given he gains 17% on selling price would be

Selling Price = (100 + 17% of 100) = Rs.117

Discount = 10%

Let × be the marked price.

Market Price – Discount = Selling Price

x- (10% of x) = 117

× – x/10 = 117

9x/10 = 117

× = 130

Cost price is 100

Selling price is 117

Marked price is 130

So, Market Price is 30% above Cost Price.