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 2Answera.None of theseb.26%c.32%d.30%
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 2Answera.None of theseb.26%c.32%d.30%
Solution
Let's solve this step by step:
Step 1: The cost price of the product is Rs. 1250.
Step 2: The selling price of the product is Rs. 1452.
Step 3: The profit made by the seller is 16.16% of the cost price. So, the profit = 16.16/100 * 1250 = Rs. 202.
Step 4: The marked price of the product is the sum of the cost price and the profit. So, the marked price = 1250 + 202 = Rs. 1452.
Step 5: The seller allowed a discount of 12% on the marked price. So, the selling price = marked price - discount = 1452 - 12/100 * 1452 = Rs. 1277.76.
Step 6: But the actual selling price is Rs. 1452. So, the markup percentage = [(1452 - 1277.76) / 1277.76] * 100 = 13.64%.
So, the markup percentage is none of the options given. The correct answer is 13.64%.
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