Question 24
Back to Exercise
The price of an article reduces to 576 after two successive discounts. The markup is 80% above the cost price of ₹ 500.What is the new profit percentage if instead of two successive discount the markup price was further increased successively two times by the same percentage?
- A 259.2%
- B 59.2%
- C 159.2% Correct
- D Can’t be determined
Correct Answer: Option C
Cost price (CP) = 500
Selling Price (SP) = 576
Mark-up price (MP) = 900
Again SP = MP [( 1 - r/100)2] [r - rate of discount in %]
576 = 900 (1 - r/100)2
24/30 = (1 - r/100)
r = 20%
Again, new SP = MP (1 + r/100)2
= 900 (1 + 20/100)2
= 1296
New, profit percentage = [(SP - CP)/CP] X 100
= [( 1296 - 500 ) / 500 ] x 100 = 159.2%
Discussion & Comments 0
Share your method, a shortcut, or ask about a step you didn't follow.
No comments yet. Be the first to share your solution!