After allowing 20% cash discount, a trader still earns a profit of 11.11%. How much above the cost price does the trader mark his goods?

Explanation

Let cost price be $100$ Profit is $11.11\%$ Selling price $= 100 \times \frac{111.11}{100} = 111.11$ Given selling price is after $20\%$ discount $111.11 = MP \times \frac{80}{100}$ $MP = 138.89$ Marked price is $38.89\%$ above cost price