A vendor purchases 7 shirts at the marked price of 6 shirts. If he sells each shirt after giving a 4% discount on its marked price, what is his profit percentage?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 12%.
Let MP of 1 shirt = 100
So, MP of 6 shirts = 600
Vendor buys 7 shirts at ₹600 ⇒ CP per shirt = 600/7
He sells at 4% discount on MP ⇒ SP per shirt = 96
Profit per shirt = 96 – 600/7 = 72/7
Profit percentage = (72/7)/(600/7) × 100 = (72/600) × 100 = 12%