Question
Download Solution PDFA dealer marks his goods 30% higher than their cost price. In order to sell his goods at a no profit no loss basis, what discount percentage should he allow (correct up to 2 decimal places)?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
Percentage increase in price: 30%
Concept used:
The discount needed for no profit no loss is equal to the percentage increase.
Solution:
Calculate the discount: 30/(1+30/100) × 100.
⇒ Discount = 30/(1+30/100) × 100 = 23.08%
Therefore, the dealer should allow a discount of 23.08%.
Last updated on Jun 12, 2025
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