d Word Problem 1 (Profit calculation on marked price basis) | Job Exam Rare Mathematics (JEMrare) - Solved MCQs

# Word Problem 1 (Profit calculation on marked price basis)

Problem 1: How much percent a tradesman increase on to the cost price to his goods so that he may make a net profit of 10% after allowing a customer a discount of 4% of his bill ?

a. 14-7/12%            b. 16-1/2%                        c. 20%                    d. 19-1/2%

(word problems on job exam mathematics.)

Solution:

We suppose her that Cost Price is ‘y’

i-e CP=y

First we will calculate Selling Price SP by using Profit formula

We know that;

or

But Profit is 10% of cost price i-e

Put values in above relation

This is selling price !

Now we will calculate Marked Price MP using Discount formula;

Formula for Discount percentage is ;

in short we write

Now discount %age is given to be 4%

so,

But We have calculated above

Put value;

This is marked price !

Now finally we can calculate sought increase in Cost Price CP using formula

Putting values of MP and CP and simplifying

So the option ‘a’ is correct