Question

A shopkeeper buys an article for $Rs.300$. He increases its price by $20\%$ and then gives $10\%$ discount on the new price. Find:

$\left(iv\right)$ the profit percent made by the shopkeeper

Answer 1

Finding out the increased amount
C.P of an article $=Rs.300$
Now,
Increased amount $=300\times \frac{20}{100}$
$=3\times 20$
$=Rs.60$.

Finding new price or marked price of the article
$\therefore$ New price $=$ C.P $+$ increased amount
$=Rs.300+Rs.60$
$=Rs.360$

Finding the discount
Shopkeeper gives $10\%$ discount on the new price
$\therefore$ Discount $=360\times \frac{10}{100}$
$=Rs.36$.

Finding out selling price
Selling price $=$ M.P$–$ discount
$=Rs.360–Rs.36$
$=Rs.324$.

Finding out profit percentage
Shopkeeper buys the article for $Rs.300$
and selling price $=Rs.324$
Net profit to the shopkeeper $=\text{S.P.}-\text{C.P.}$
$=Rs.324-Rs.300$
$=Rs.24$
Profit percentage $=\frac{\text{profit}}{\text{C.P}}\times 100$
$=\frac{24}{300}\times 100$

$=8\%$

Therefore, profit percentage made by the shopkeeper is $8\%$