
Elementary Math Fractions, Percentages, Word Problems, Equations, Inequations, Factorization, Expansion 
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June 22nd, 2018, 02:40 AM  #1 
Senior Member Joined: Aug 2014 From: India Posts: 294 Thanks: 1  what kind of formula is that?
A man marks up apples by 20% and then gives one apple free for buying 5 apples. What is the percentage of his profit? Solution: 20% markup  (6/5), 1 free for 5 apples so loss for the shopkeeper. He gave total 6 apples where he should have given 5 apples so (5/6) So, (6/5*5/6)=1 i.e CP=SP i.e no profit no loss I didn't understand why 6/5 is multiplied with 5/6. What kind of formula is that? 
June 22nd, 2018, 09:02 AM  #2 
Math Team Joined: Jan 2015 From: Alabama Posts: 3,244 Thanks: 887 
20% is 1/5 so that a "20% markup" means that the original price was multiplied by 1+ 1/5= 6/5. But then he sells "6 apples for the price of 5" the price is 5/6 the previous price. Another way to think about this: Suppose the original price we \$1.00 per apple. With the 20% markup, the price is increased to \$1.20. 5 apples would cost 5*1.20 = \$6.00. But if you get 6 apples for that price, you are back to \$6.00/6 = \$1.00 per apple. Last edited by skipjack; June 23rd, 2018 at 07:53 AM. 

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