optimist.tageja wrote:Let us assume the marked price of the good be as $130,
he gave discount of 10% + $13
discounted selling price is - $117
he made a profit of 17% on selling at this price - which would be $17
Cost price of the good would be - $100
if he had sold the article for the marked price of $130
he would have made a profit of 30%
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This is exactly the approach that I would take.
Here's how to get good numbers to plug in.
When a percent increase from a SMALLER number (the cost price) is combined with a percent decrease from a GREATER number (the marked price), the total percent increase from the smaller number must be a bit greater than the SUM of the two percentages.
Since 17+10=27, the marked price is likely 30% greater than the cost price.
This reasoning leads to the values used in the solution proposed by Optimist:
Cost price = 100.
Marked price = 130.
Discounted price = 117, which is 17% greater than the cost price and 10% less than the marked price.
Thus, (profit at the marked price)/(cost price) = 30/100 = 30%.
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