A merchant fixes the marked price of his goods at 50% above the cost price. He sells his goods at 12% discount. His percentage of profit is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 32%.
Let CP = 100
MP = 100 + 50 = 150
SP = 150 - 12% of 150 = 150 - 18 = 132
Profit = 132 - 100 = 32
Profit % = (32 / 100) × 100 = 32%