A vendor bought a book marked at ₹850 at successive discounts of 20% and 10%, respectively. He spent ₹55 on transport and sold the book for ₹980. What will be his profit percentage (rounded off to 2 decimal places)?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 46.93%.
Given that
Marked price = ₹850
Two successive discounts of 20% and 10%
He spent ₹55 on transport and sold the book for ₹980
According to the question
After giving discounts, the price of book = 850 × (80/100) × (90/100) = ₹612
His total cost of book = 612 + 55 = ₹667
His selling price of book = ₹980
Hence, profit% = [(S.P. - C.P.)/C.P.] × 100 = [(980 - 667)/667] × 100 = 46.93%