During a sale of 30% on everything in a store, a kid is successful in convincing the store manager ...
During a sale of 30% on everything in a store, a kid is successful in convincing the store manager to give him 20 candies for the discounted price of 14 candies. The store still makes a profit of 12% on this sale. What is the mark up percentage on each candy?
Answer/Solution
80%
Steps/Work
Hi Akhil, I can share the way I solved it..
Let's say Marked price = M
So, there's a discount of 20% on M So, new S.P. = 80% of M
Now, the child convinces the owner to sell 20 candies for the price of 14 candies .
Let's say each candy after discount is 1$. So, S.P. of 20 candies = 20$. THe child bought it for 14 $ So, he got a discount of 6/20 *100 = 30%
So, the latest S.P. = 70% of 80% of M = 0.7* 0.8 M
Now, we are given that the shopkeeper still makes a profit of 12%. So we have ,
0.7 * 0.8 * M = 1.12 C.P
So, we get, M= 2 C.P.
i.e. Marked price was kept 100% above C.P.
B
Let's say Marked price = M
So, there's a discount of 20% on M So, new S.P. = 80% of M
Now, the child convinces the owner to sell 20 candies for the price of 14 candies .
Let's say each candy after discount is 1$. So, S.P. of 20 candies = 20$. THe child bought it for 14 $ So, he got a discount of 6/20 *100 = 30%
So, the latest S.P. = 70% of 80% of M = 0.7* 0.8 M
Now, we are given that the shopkeeper still makes a profit of 12%. So we have ,
0.7 * 0.8 * M = 1.12 C.P
So, we get, M= 2 C.P.
i.e. Marked price was kept 100% above C.P.
B