This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
Step 1: Calculate the Selling Price (SP) based on the Cost Price (CP) and profit percentage. The shopkeeper gains 33% profit. SP = CP + 0.33 × CP = 1.33 × CP Step 2: Calculate the Selling Price (SP) based on the Marked Price (MP) and discount percentage. The shopkeeper gives a 5% discount on the Marked Price. SP = MP - 0.05 × MP = 0.95 × MP Step 3: Equate the two expressions for Selling Price (SP) to find the relationship between Marked Price (MP) and Cost Price (CP). 1.33 × CP = 0.95 × MP Step 4: Solve for Marked Price (MP) in terms of Cost Price (CP). MP = (1.33)/(0.95) × CP MP = (133)/(95) × CP MP = 1.4 × CP Step 5: Calculate the percentage above the Cost Price that the article must be marked. The percentage above CP is given by MP - CPCP × 100\%. Percentage above CP = 1.4 × CP - CPCP × 100\% Percentage above CP = 0.4 × CPCP × 100\% Percentage above CP = 0.4 × 100\% Percentage above CP = 40\% The article must be marked 40% above the Cost Price. The correct option is 2. The final answer is 40%. Send me the next one 📸