A maths problem?

Question

Its related to profit,loss & discount....Please explain also....
Q.. A wholesaler allows a discount of 20% on the list price to a retailer.The retailer sells at 5% discount on the list price.If a customer paid Rs.114 for an article,what profit is made by the retailrer? Find also the retailers percentage profiton his cost???

The ans. which isgiven in the book itself is is Rs.18 & 18.75%...

Please help
PLease help

Answer 1

Let the list price be x. So the retailer bought it 80% of x. And he sold it to the consumer at 95% of x. fine?
equate 95%x = 114. You get x = 120.
How much did the retailer spend? 80% of x = 96 bucks. So how much is his profit then: sales - expenditure = 114 - 96 = 18 bucks.
And how much is his profit percentage? profit/expense * 100 = 1800/96 = 18.75%. Fine??

Answer 2

Let the list price be k, the price the retailer pays be r, and the price the customer pays be c.

r = (1 - 20/100)k
r= 0.8k.

The retailer sells to the customer at:
c = (1 - 5/100)k
c = 0.95k ...(1)

The retailer's profit is:
c - r
= 0.95k - 0.8k
= 0.15k .......(2)

Putting c = Rs114 in (1):
k = 114 / 0.95.
Putting this value of k in (2):
c - r
= 0.15 * 114 / 0.95
= Rs 18.

The retailer's percentage profit on cost is:
100( c - r ) / r
= 100 * (0.95k - 0.8k) / ( 0.8k)
= 18.75%

Answer 3

the customer paid RS114.
the retailer let 5% discount. on the list price
Let the list price be x
==>95% of list price is Rs.114 becasue he gives 5% discount

(95/100)*x=114
==>x=114*(100/95)
x=Rs 120.

The cost price fo retailer is 80% of list price since wholesaler gives 20% discount.

cost price for retailer=(80/100)*120
=96

The retailer bought it at 96 and sold at 114.
therefore his profit is 114-96
=Rs18.

profit% = (profit/costprice)*100
= (18/96)*100
=18.75%

I hope you understood.
If my explanation was not good i am sorry
I would appreciate if you give a feedback on my answer

Answer 4

LP=List Price

LP-%20*LP=%80*LP

LP-LP*%5=%95*LP (paid by customer)

%95*LP-%80*LP=%15*LP is profit of retailer.


profit=(114*0.15)/0.95=18 Rs.


15/80=0.1875=%18.75