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4. Santosh purchased a watch at 20% discount on its marked price but sold it at the marked price. Findthe profit percent of Santosh on this transaction. |
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Answer» Let P be the marked price, then the cost to santosh was (0.8)P, which represents a 20% discount. When he sold the watch, his profit was P - .8P = 0.2 P The percent gain = (Profit/Cost)* 100 = (.2p/.8P)*100 = 25% If the marked price is $100, he spends $80. He sells it for $100, so he makes $20 on his $80 investment, and $20 is 25% of $80, so this answer makes sense. |
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