mark and loss: marking up, giving discount, making profit

[defeated_soldier]

John marks up an article by p%(p>0), gives a discount of p/4% and gets a profit p/4%.

Had he marked up by p/2% and given a discount of p/6%, what would be his profit percentage ?

I need some hints to solve it.

Look , the problem statement contains unknown terms p/2,p/4,p/6 etc...and so I am afraid of that .

should i assume cost price=100 ?

should i assume sale price=100 ?

should i assume marked price=100 ?

should i assume cost price=C?

should i assume selling price=S?

should i assume marked price=M?

As you i dont what to assume ? which one i should assume and WHY ?

I dont know how to start..........completely lost....can we simplify the problem and solve in a simpler way .

thanks

 

[tkhunny]

Re: mark and loss

John marks up an article by p%(p>0), gives a discount of p/4% and gets a profit p/4%.

Had he marked up by p/2% and given a discount of p/6%, what would be his profit percentage ?

should i assume cost price=100 ?
should i assume cost price=C?

Either of these is particularly convenient.

C = Cost
C*(1 + p%) = Regular Retail
C*(1 + p%)(1 - (p/4)%) = Sale Price = C*(1 + (p/4)%) = Cost + (p/4)% Profit

A little algebra remains.

 

[defeated_soldier]

Either of these is particularly convenient.

C = Cost
C*(1 + p%) = Regular Retail

do you mean Marked prices are measured on cost price ?

But i knew marked prices are measured on sales price and discounts are also given on the marked price.

please let me if my conecpt is wrong.

please given an simple example if i am wrong in concept

thanks

 

[tkhunny]

Marked Price = Cost + Markup

Marked Price = Cost * (1 + %Markup) = Cost + Cost*(%Markup) = Cost + Markup

It is the same thing.

 

[defeated_soldier]

Ah ...finally solved it.

here it goes..

We know markup and we know discount

so,sales price =C(1+p/100)*(1-p/400).........(1)

again we know profit , so sales price is =C(1+p/400).......(2)


Both the eqn should be same ....as they are representing sales price.

so (1)=(2)

i solved those and got p=200 ....so we got the value of this unknown term

Now again , according to the question profit =c(1+p/200)(1-p/600)-c

just took the percentage for this ....


Happy solving.

Thank you guys ....those are beautiful hints for me.

thanks