A shopkeeper marked a product, 40% above the cost price and sold the product for ₹ 3,780 by giving a discount of 10%. The profit percentage of the shopkeeper is:
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 26%.
Given that
A shopkeeper marked a product, 40% above the cost price
The selling price = ₹ 3,780
The discount % on the marked price = 10%
Let the cost price of a product be 100 units
The marked price = 100 + 40 = 140 units
Selling price = Marked price × (100 - discount%)/100
According to the question
S.P. = 140 × 90/100 = 126 units
So, 126 units = ₹ 3,780
100 units = 3780 × 100/126 = ₹ 3000
The cost price is = ₹ 3000
Profit gets by shopkeeper = 3780 - 3000 = ₹ 780
Hence, the profit percentage = (Profit/C.P.) × 100 = (780/3000) × 100 = 26 %