Multiple choice

After a discount of 11.11%, a trader still makes a gain of 14.28%. At how many percent above the cost price does he mark his goods?

  1. 28.56%

  2. 35%

  3. 22.22%

  4. 24.66%

  5. None of these
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A Correct answer
Explanation

Let CP = 100. Profit is 14.28%, so SP = 114.28. Discount is 11.11% (which is 1/9), so SP = (8/9) * MP. Thus 114.28 = (8/9) * MP, giving MP = 114.28 * 9 / 8 = 128.56. The markup is 28.56% above the cost price.

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