A merchant buys goods at 25% off the list price (the usual price for
the goods). He wants to mark the goods so that after a 20% discount of
this marked price, 25% of the sale is profit.
What percent of the list price must he mark the goods? Solution:Let L be the list price and P be the Merchant's marked price.
Merchant's cost = 0.75L Merchant's discounted price = 0.80P (This is just the price at which he finally sells the goods i.e., the final price to which he discounts the marked price so we have the equation inter-relating these quantities: That is, the merchant's marked price P is 125% of the list price L. |
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