A tradesman marks his goods at 26% above the cost price. He allows his customer a discount of 12% on the marked price. His profit per cent is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 10.88%
Let the cost price of goods be 100 units
Given that
The marked price is 26% above the cost price
Discount given = 12%
Calculation
Marked price = 100 + 26 = 126 units
Selling price = 126 × 0.88 = 110.88 units
So, Profit = S.P. - C.P. = 110.88 - 100 = 10.88 units
Hence, Profit % = 10.88 × 100/100 = 10.88%