melguy wrote:Please help me with how can I solve this question if I wish to plug in the answer choices and try working backwards. Thanks!
A tradesman allows a discount of 15% on the marked price. How much above the C.P. must he mark his goods to make a profit of 19 % ?
a. 35 % above the C.P.
b. 40 % above the C.P.
c. 45 % above the C.P.
d. 50 % above the C.P.
e. 55 % above the C.P.
Let the cost price = 100.
To make a profit of 19%, the revenue from the sale = 119.
We can plug in the answers, which represent the percentage that must be added to the cost price to yield the appropriate marked price.
The percentages in the answer choices imply the following options for the marked price:
135, 140, 145, 150, 155.
Since the discount = 15/100 = 3/20, the marked price is likely to be a multiple of 20.
Answer choice
B: 140
Discounted price = 140 - .15(140) = 140 - 21 = 119.
Success!
The correct answer is
B.
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