A profit of 20% is made on the goods when a discount of 10% is given on the list price. If a discount of 20% is allowed on the list price, the profit to be made will be:a) 6%b) 20/3%c)10/3%d) 14/3%
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A profit of 20% is made on the goods when a discount of 10% is given on the list price. If a discount of 20% is allowed on the list price, the profit to be made will be:a) 6%b) 20/3%c)10/3%d) 14/3%
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::::::::::Solution for Commercial Mathematics Problem::::::::::
Dear Aspirant,
We can very easy to solve these type of questions.
First of all you have to know some basics before solve this some .
Question Answer is Option B
Basics for this problem
List Price is also called as marked price on that good or product.
We can only allow discount on Marked price only
Profit means = Selling Price - Cost Price.
Cost Price a retailer or a person one who purchased from wholesaler or another person.
If you have a good grip on this problem you can easy to solve this question
Solution:
10% of Discount means that discount allowed on List Price or Marked Price .
After allow 10% of Discount on list price we can get Selling Price (i.e 90% of List price is equal to Selling Price)
90% List Price = 120%of Cost Price
=>> 90/100 List Price = 120/100 of Cost Price
both sides 100 s are cancelled
we can get ratio of
List price : Cost Price = 120: 90
we can minimize this ratio
List Price : Cost price = 4:3
List Price = 4 Parts
Cost Price = 3 Parts.
Now we have to assume 4 Parts equal to 100 Rupees.
List Price = 100 Rupees
4 Parts value 100 Rupees that indicates 3 Parts value 75 Rupees.
Our Problem is :
If discount 20% allowed on list price .
Actually list price is 100 Rupees if discount is allowed 20% Selling Price equal to Rs 80/-(After allow discount on List Price)
We know Cost Price value is 75 Rupees and Selling Price is 80 Rupees
Profit = Selling price-Cost Price = Rs 80 - Rs 75= Rs 5/-
Profit percentage = [(Selling Price -Cost Price)/ Cost Price] * 1000
i.e = (5/75)*100
= 100/15
=20/3%
if CP of 10 greetings is equal to the SP of 8 greetings find the gain or loss %
- The question you asked is very simple and answer to this question is gain of 25%. Solution stated below-
- Let us assume the total cost price (CP) of 10 greetings is Rs.80.
- So the cost price of 1 card = 80/10 i.e Rs.8.
- As stated in the question, selling price of 8 greetings is equal to cost of price of 10 greetings. Therefore selling price of 8 greetings is Rs.80.
- The selling price of one card= 80/8 i.e Rs.10.
- Profit (in terms of rupees) for single card= Rs.10- Rs.8= Rs.2.
- Profit/gain in %- 2*100/8=25%.
Dear,
In such mathematical questions, question is solved easily if we assume some price of the product.
Suppose Cost price of goods is Rs.150.
Overall profit made is - 20%
So Selling price -> 180
Now selling price comes after giving 10% of discount of list price.
=> List price- 10% of list price = Selling price
=> 90% of LP = SP
=> (90/100)*LP = 180
=> LP = 200
2nd case says that discount offered is 20%, and we need to find profit on selling price.
=>SP = LP-20% of LP
=>SP = 200 - (20%) of 200
=> SP = 160
So profit in second case will be (SP-Cost Price)= (160-150)
= Rs.10
So profit percentage= (10/150)*100
= 10/3%
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