A trader marks his goods 63% above the cost price and allows a discount of 23%. Find his profit percentage.
Show answer & explanation
Correct answer: B
Explanation
Given:
Cost Price (CP) = 100
Marked Price (MP) = 63% higher ⇒ 163
Discount = 23%
According to the formula:
SP = MP × (100 − Discount%) / 100
Profit% = (Profit / CP) × 100
SP = 163 × 77 / 100 = 125.51
Profit = 125.51 − 100 = 25.51
Profit% = 25.51%