A product is worth of Rs. 1250. The seller marked up the price of the product by certain percent and allowed a discount of 12%. If the seller sells the product for Rs. 1452 and manages to make a profit of 16.16%, find the markup percentage?Question 15Answera.None of theseb.30%c.26%d.32%
Question
A product is worth of Rs. 1250. The seller marked up the price of the product by certain percent and allowed a discount of 12%. If the seller sells the product for Rs. 1452 and manages to make a profit of 16.16%, find the markup percentage?Question 15Answera.None of theseb.30%c.26%d.32%
Solution
To find the markup percentage, we first need to find the marked price.
Step 1: Calculate the cost price The cost price of the product is Rs. 1250.
Step 2: Calculate the selling price The selling price of the product is Rs. 1452.
Step 3: Calculate the profit The profit is the selling price minus the cost price, which is Rs. 1452 - Rs. 1250 = Rs. 202.
Step 4: Calculate the profit percentage The profit percentage is (Profit / Cost price) * 100, which is (202 / 1250) * 100 = 16.16%. This matches with the given profit percentage.
Step 5: Calculate the marked price The marked price is the price before the discount is applied. Since a discount of 12% was given, the selling price is 88% of the marked price. Therefore, the marked price is Selling price / 0.88 = Rs. 1452 / 0.88 = Rs. 1650.
Step 6: Calculate the markup percentage The markup percentage is ((Marked price - Cost price) / Cost price) * 100, which is ((1650 - 1250) / 1250) * 100 = 32%.
So, the markup percentage is 32%. The answer is d. 32%.
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