A person marked his goods at a price that would give him 40% profit. But he declared a sell and allowed 20% discount on the marked price. What is the profit percentage of the person in the whole transaction?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e 12%.
| Understanding/Application |
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The cost price of good = Rs. 100 Profit = 40% The selling price of the good = (100 × 140)/100 = Rs. 140 Discount after sale = 20% |
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Selling price after sale = (140 × 80)/100 = Rs. 112 Profit after sale = 112 - 100 = Rs. 12 Profit percentage = (12 × 100)/100 = 12% |