Question & Answer
QUESTION

A shopkeeper marks his goods 30% above the cost price and gives a discount of 15% on the Marked price. What gain percent does he make?

ANSWER Verified Verified
Hint: In this particular type of question let us first take the CP as 100. Then we need to find the SP using a discount on MP (Marking Price). Finally we have to find the gain and gain percentage using SP and CP.

Complete step-by-step answer:

Let the CP be Rs100
MP = 100 + 30% of 100
=Rs.130
Discount = 15% of 130
$ \Rightarrow \dfrac{{15}}{{100}} \times 130$
= Rs19.5
SP = MP - Discount
$ \Rightarrow $130 - 19.5 = Rs110.5
Profit = SP - CP
= 110.5-100
= Rs.10.5
$profit\% = \dfrac{{profit}}{{CP}} \times 100$
$ \Rightarrow profit\% = \dfrac{{10.5}}{{100}} \times 100 = 10.5\% $

Note: It is important to recall the formulas of CP, SP and gain or loss percentage while solving such questions. Remember that instead of taking 100 as the CP we could also express the CP as x as it won't affect the answer. Note that marking price is the price which the shopkeeper marks on his product before applying a discount. And selling price is the price at which he sells them after adding a discount.