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Earn +20 ptsQ: What is the mark above the a called?
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How much percent above the cost price should a shopkeeper mark his goods so that after allowing a discount of 20 percent on the marked price he gains 12 percent?
Mark the goods at 40% above cost price. Need sell_price such that: 80% of sell_price - cost_price/cost_price x 100 = 12% ⇒ 0.8 x sell_price - cost_price = 0.12 x cost_price ⇒ sell_price = 1.12/.8 cost_price = 1.4 cost_price 1.4 x 100 = 140% ⇒ mark at 40% above cost.
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