A store declares a discount scheme as “Buy 1 shampoo bottle and get 60% off on another shampoo of the same quality, size, and of the same price.” What is the profit percentage of the store if each shampoo bottle has a cost price 60% below the marked price?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 75%.
Let MP of each shampoo = 100 and CP = 40
First shampoo' SP = Sold at MP = 100
Second shampoo's SP = 60% off on MP = 40
Total SP = 100 + 40 = 140
Total CP = 2 × 40 = 80
Profit = 140 - 80 = 60
Profit percentage = (60/80) × 100 = 75%