The ratio of cost price and marked price is 2:3 and ratio of percentage profit and percentage discount is 3:2. What is the discount percentage
What I Did:-
Let cost price= 200 and Marked price= 300 Let selling price be y
$(y-200/200*100)/(y-d/100*300)=3/2$ But this is not helping me to find the discount percentage. How to do it? Please help
You are off to a good start. Let's use 100 and 150 instead of $200 and $300. The problem gives us really nice #s to work with.
Profit % means (1+P) x C = new price N. Discount means (1-D) x old price = new price. And we know old price = 1.5 x C and P = 1.5 x D so using C = $100 we get 100 (1+P)= N and (1- 2/3P) x $150 = N 100 + 100p = 150 - 100p 50 = 200P, or p = 25%
So new price = $125, and profit $ = 25 and discount $ = 25 25% x 100 = 3/2 x 16.6667% x 150