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discount problem

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discount problem

by [email protected] » Mon Apr 23, 2012 4:29 am
Question: "The cost price of a doll is Rs.250 and Marked price is Rs.300. What is the discount to be given to get the 20% profit?"

Solution: Let S.P=x

Profit%= (S.P - C.P)* 100 / C.P
20 = (x-250)* 100 / 250
20*250/100 = x-250
50 = x-250
50+250 = x
Hence S.P = Rs.300 & M.P = Rs.300
Hence discount = M.P-S.P = 300-300 = 0
Hence zero % discount is to be given to get 20% profit
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by GmatKiss » Mon Apr 23, 2012 5:09 am
[email protected] wrote:Question: "The cost price of a doll is Rs.250 and Marked price is Rs.300. What is the discount to be given to get the 20% profit?"

Solution: Let S.P=x

Profit%= (S.P - C.P)* 100 / C.P
20 = (x-250)* 100 / 250
20*250/100 = x-250
50 = x-250
50+250 = x
Hence S.P = Rs.300 & M.P = Rs.300
Hence discount = M.P-S.P = 300-300 = 0
Hence zero % discount is to be given to get 20% profit
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by Mr Smith » Mon Apr 23, 2012 8:44 am
SP = CP * (1+profit/100)
= 250 *(1 + 20/100)
= 250 * 1.2
= 300

Discount= (MP-SP)*100/MP
= 0
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by Abhishek009 » Mon Apr 23, 2012 8:59 am
[email protected] wrote:Question: "The cost price of a doll is Rs.250 and Marked price is Rs.300. What is the discount to be given to get the 20% profit?"
Proceeding with a further shortcut method to solve the problem mentally within 30 seconds...


20% => 1/5.

Given - to get the 20% profit <=> Profit = 1/5 th of Cost Price ( Coz profit is always calculated on the Cost Price )

Now , Profit is 50.

Selling price is 300 (250 + 50 = CP + P )

Marked Price is 300

So the shopkeeper doesn't allow any discount and sells the article at the marked price - Hence profit % is 0%...
Abhishek
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by [email protected] » Tue Apr 24, 2012 4:01 pm
[email protected] Whatever solution you posted is perfectly correct...

profit or loss % is always calculated on the cost price and not something else.

Also, whenever you post a query at BTG, please do it with options and as if the question is presented in the actual GMAT.

Hope this post was useful to you, thanx.
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