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September 12th, 2019, 10:28 PM   #1
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How to solve this Marked up price problem?

A man marks up his goods by 15%. If he still incurs a loss of 5%, what percentage discount has he given to his customers?

Mark up 15%; MP/CP = 115/100

Loss 5%; SP/CP = 95/100

MP/CP * Discount% = SP/CP

115/100* Discount% = 95/100

Discount% = 95/115*100 = 82.6%

But answer is 17.4%

Where I am doing wrong?
Ganesh Ujwal is offline  
 
September 12th, 2019, 11:50 PM   #2
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What you have is the amount the customer pays, not their discount.
100% - 82.6% = 17.4% discount
weirddave is offline  
September 13th, 2019, 03:42 AM   #3
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Quote:
Originally Posted by weirddave View Post
What you have is the amount the customer pays, not their discount.
100% - 82.6% = 17.4% discount
How can you tell 82.6 % is the amount the customer pays?
Ganesh Ujwal is offline  
September 16th, 2019, 01:11 AM   #4
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Because that's the maths you did. Your 'Discount%' is actually the 'Payable%'
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