GRE Exam Numerical Ability Profit and Loss

a merchant marks his goods up by 60% and then offers a discount on the marked price if the final price after the discount results in the merchant making no profit or loss what was % dicount offered by the merchant?

Read Solution (Total 3)

mark up %= 100*[(MP-CP)/CP]=60
(MP-CP)/CP = 3/5
MP/CP=8/5
let CP = 100
MP = 160
FOR SP = CP
discount =60 from 160
so dis %= 100*60/160
= 37.5 % ans
u can take any value of CP
12 years agoHelpfull: Yes(5) No(0)

let the price before marking up be 100.
after marking up by 60% it will be 160
Let discount be D and is given by 160(1-D/100)=100
Discount=37.5%
12 years agoHelpfull: Yes(1) No(0)
Given MP=1.6 CP
NOW for no p/l CP=SP
SO xMP=SP=CP
=> x=1/1.6 * 100 = 62.5
12 years agoHelpfull: Yes(0) No(4)

GRE Other Question

a merchant marks his goods in such a way that the profit on sale of 50 articles is equal to sellingprice of 25 articles what is his profit margin? a merchant mixes three varieties of rice costing rs20/kg ,rs24/kg and rs30/kg and sells the mixture at a profit of 20% and rs30/kg how many kgs of the second vareity will be in the mixture if 2kgs of the third variety is there in the mixture?