A cell phone was marked at 20% above the cost price and a discount of 10% was given on its marked price. What is the profit percentage?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e 8%
Let the cost price be 100
Then, Marked price = 120
After offering a discount of 10% of the marked price,
Selling Price, S.P = 120 - 0.1 × 120
S.P = 120 - 12
= 108
Profit% = (SP - CP) / CP = (108 -100) / (100) × 100
= 8%