A trader marked the price of an article so as to earn a profit of 28% on its cost price police stop he sold it by giving 15% discount on its marked price. What was his actual profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 8.8%.
Discount % = 15
Selling price = Marked price - Marked price × discount%
Profit% = (Profit/Cost price) × 100
Let the cost price of the article be 100a.
So, the marked price to get a profit of 28% = 100a + 100a × 28% = Rs. 128a
He is giving a discount of 15%.
Actual selling price = 128a - 128a × 15% = 108.8a
Actual profit = 108.8a - 100a = 8.8a
Profit% = (8.8a/100a) × 100 = 8.8%