Answer:
10.5 %
<u>Skills needed: Financial Math Essentials</u>
Step-by-step explanation:
1) First, before getting started, let's assume the price of the product is
. This variable will be used a lot throughout the problem (
).
2) Marking a price above means increasing the price in order to make money off of the purchased product. When raising something by
percent, the new price would be
.
---> In this case, the price increased by
percent.
This means that it would be: 
New price is: 
3) The shopkeeper is then offering a
percent discount off of this marked price. When offering a
percent discount price, the new price (with discount), expressed algebraically is: 
---> the expression above simplifies to 
In this case,
, 
---> 
This means that
, with discount, has been raised
.
10.5 % is the profit percent
(The profit percent being the final marked up price - purchased price)