A shopkeeper marked an item 40% above its cost price. During a sale, he offered a 15% discount. What was his profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 19%.
Let the cost price be 100.
MP = 140% of 100 = 140
SP = MP × (100 - D)/100
⇒ SP = 140 × 85/100
⇒ SP = 119
Profit = 119 - 100 = 19%