A trader buys and article at 80% of its marked price and sells it at 10% discount on marked price. His percentage profit is:
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 12.5%
| Understanding/Application |
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Let, MRP = Rs 100 Cost price = 80% of MRP = (100/100)80 = Rs 80 Now, gives 10% discount on sell. [Given] Selling price = MRP - 10% of MRP = 100 - (100/100)10 = 100 - 10 = Rs 90 Profit amount = SP - CP = Rs(90 - 80) = Rs 10 Hence, profit% = (Profit amount/Cost price)100 = (10/80)100 = 1000/80 = 12.5% |