A person sells an article at the profit of 10 percent. Cost price and selling price both are decreased by 20 percent. What will be the new profit percentage?
Show answer & explanation
Correct answer: A
Explanation
Let Cost Price = ₹100
Profit = 10%
Selling Price = ₹110
New Cost Price = 100 - 20% of 100 = ₹80
New Selling Price = 110 - 20% of 110 = ₹88
Profit = 88 – 80 = ₹8
Profit Percentage = (8/80) × 100 = 10%