What percentage above the cost price of an article should be marked so as to gain 25% after allowing a discount of 20%?
Given:
Gain = 25%
Discount = 20%
Formula Used:
Percentage Above Cost Price =
Solution:
Marked Price = Cost Price × 1.5625
Percentage Above Cost Price = [(1.5625 ÷ 1) - 1] × 100%
Percentage Above Cost Price = (1.5625 - 1) × 100%
Percentage Above Cost Price = 0.5625 × 100%
Percentage Above Cost Price = 56.25%
English
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