A tradesman gives a discount on the marked price and gives an article free for buying every 15 articles and thus gains . Find out by what percentage the marked price is above the cost price.
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Solution & Step-by-step Explanation
Let the Cost Price () of each article be ₹.
The tradesman sells 15 articles but gives 16 articles in total (15 + 1 free).
Therefore, the total cost price for 16 articles = .
He makes a profit of . Thus, the total Selling Price () is:
This total selling price is obtained from selling 15 articles after a discount of on the Marked Price () of each article.
The percentage by which the marked price is above the cost price is:
The tradesman sells 15 articles but gives 16 articles in total (15 + 1 free).
Therefore, the total cost price for 16 articles = .
He makes a profit of . Thus, the total Selling Price () is:
This total selling price is obtained from selling 15 articles after a discount of on the Marked Price () of each article.
The percentage by which the marked price is above the cost price is: