A shopkeeper allows a successive discount of 20% and 10%. By what percentage should the marked price be above the cost price so that the shopkeeper makes a profit of 8%? MCQ with Answer and Explanation

Equivalent discount = 20 + 10 - (200 / 100) = 28%. Let Cost Price = 100. Selling Price = 108. Marked Price * (1 - 0.28) = 108. Marked Price * 0.72 = 108. Marked Price = 108 / 0.72 = 150. Markup percentage = 50%.