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A shopkeeper offers a scheme for his customer in which he sold 2 items free for the purchase of 3 items. He marked the price of the item 75% above its cost price and sold all the units of the item at the marked price, then what is the percent profit earned by the shopkeeper when he sold the items under this scheme?

A shopkeeper offers a scheme for his customer in which he sold 2 items free for the purchase of 3 items. He marked the price of the item 75% above its cost price and sold all the units of the item at the marked price, then what is the percent profit earned by the shopkeeper when he sold the items under this scheme? Correct Answer 5%

GIVEN:

Markup = 75%

CONCEPT:

Marked price = CP + Markup

Profit = SP – CP

FORMULA USED:

Marked price = (1 + Markup percentage/100) × CP

Profit percentage = × 100

CALCULATION:

Let the cost price of one unit of item = 100x

⇒ Marked price of one unit of item = 175% of 100x = 175x

Cost price of 5 units of item = 100x × 5 = 500x

⇒ Selling price of 5 units of items when sold under buy 3 get 2 = 175x × 3 = 525x

Profit amount = 525x – 500x = 25x

∴ Profit per cent = (25x/500x) × 100 = 5%

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