A retailer marks up the price of his goods by 30%. He sells 50% of his goods at a discount of 8% and the remaining at a discount of 6%. Find his profit percentage.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 20.9%.
Let CP = 100/unit, MP = 130/unit
50% at 8% discount: Total SP = 50 × (92/100) × 130 = 5980
50% at 6% discount: Total SP = 50 × (94/100) × 130 = 6110
Total revenue = 5980 + 6110 = 12090
CP = 100 × 100 = 10000
Profit = 12090 - 10000 = 2090
Profit percentage = (2090/10000) × 100 = 20.9%