A trader allows a discount of 10% on the marked price of an article. How much percentage above the cost price the article be marked to make a profit of 17%?
Correct Answer: 30%
Explanation:
Let the CP be ₹ 100 and let MP be ₹ x above ₹ 100.
Then, MP = ₹ (100 + x) and discount =10%
∴ SP = [(90/100) x (100 + x)] = ₹ 177
⇒ x = 30
So, cost should be labelled at 30% above CP.
