Math Problem Statement
MBA Nexus - CAT & OMETS 2024, [31-10-2024 08:51] Q7 A shopkeeper marks up the price of an article by 100% and then offers three successive discounts of a%, b% and c%, where a, b and c are positive integers. If a + b + c = 30, then find the maximum profit that he can earn.
MBA Nexus - CAT & OMETS 2024, [31-10-2024 08:52] [ Poll : Ans ]
- 40%
- 45.8%
- 70%
- 56.4% use assumption method
Solution
To solve the problem, we can break it down step by step.
-
Initial Price and Markup: Let the cost price (CP) of the article be . After marking up by 100%, the marked price (MP) becomes:
-
Discount Calculation: The shopkeeper offers three successive discounts of , , and such that . The selling price (SP) after these discounts can be calculated using the formula for successive discounts:
-
Profit Calculation: The profit can be calculated as: To express it as a percentage of the cost price:
-
Combining the Equations: Substitute the SP: Simplifying this:
-
Expressing : Given , we can try different combinations to maximize the profit.
To maximize profit, the discounts should be structured as follows:
- and or
Calculation of Profits for Different Combinations
Let's calculate for : Thus, Profit percentage:
Conclusion:
Thus, the maximum profit percentage he can earn is 45.8%.
If you have any questions or need further details, let me know! Here are some related questions you might consider:
- How does changing the discount percentages affect the overall profit?
- What would be the profit percentage if only one discount was applied?
- How do successive discounts differ from a single discount?
- Can the shopkeeper still profit if the cost price increases?
- What is the impact of the initial markup on profit margins?
Tip: Always calculate your selling price after discounts to determine the actual profit before making pricing decisions.
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Profit Calculation
Percentage
Discounts
Formulas
MP = CP * (1 + markup_percentage)
SP = MP * (1 - a/100) * (1 - b/100) * (1 - c/100)
Profit % = (SP - CP) / CP * 100
Theorems
-
Suitable Grade Level
Grades 9-12
Related Recommendation
Calculate Profit Percentage with 60% Markup and 30% Discount
Find New Profit Percentage with Markup, Discount, and Cheating Scenario
Profit and Discount Calculation for Marked and Selling Price
How to Calculate Marked Price After Discount and Profit Earned
Comparing Prices with Markups and Discounts - Math Problem