A merchant fixes the sale price of his goods at 31% above the cost price. He sells his goods at 13% less than the fixed price. His profit percentage is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 13.97%.
Let CP = 100
Marked Price = 100 + 31% = 131
Selling Price (SP) = 131− 13% of 131 = 131−17.03 = ₹113.97
Profit% = (113.97 − 100)/100 × 100= 13.97%