A shopkeeper marked up the price of a product by 30%. What is the maximum discount he can give so that he makes a profit of at least 10.5%?Question 8Answera.13%b.15%c.20%d.10%
Question
A shopkeeper marked up the price of a product by 30%. What is the maximum discount he can give so that he makes a profit of at least 10.5%?Question 8Answera.13%b.15%c.20%d.10%
Solution
Let's break this down:
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The shopkeeper marked up the price of a product by 30%. This means the new price is 130% of the cost price.
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He wants to make a profit of at least 10.5%. This means the selling price should be at least 110.5% of the cost price.
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To find the maximum discount he can give, we need to subtract the desired profit percentage (110.5%) from the marked up price (130%).
So, 130% - 110.5% = 19.5%
Therefore, the maximum discount the shopkeeper can give while still making a profit of at least 10.5% is 19.5%. However, this option is not available in the choices given. There might be a mistake in the question or the options provided.
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