A merchant fixes the sale price of his goods at 42% above the cost price. He sells his goods at a 15% discount marked price. His percentage of profit (rounded off to the nearest integer) is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 21%.
Given that
The price is fixed at 42% higher than C.P
Discount offered on marked price = 15%
Let the C.P be 100
Selling price = Marked price × (100 - discount%)/100
Hence the marked price = 142
Now after the discount, the price becomes = 0.85 × 142 = 120.7
Hence the profit gained by him = Rs 20.7
Percentage of profit = × 100 = 20.7% = 21%