A vintage clock was bought for ₹10000. Its price was marked up by 40%. Thereafter, it was sold at a discount of 10% on the marked price. What was the percentage profit on the transaction?
Show answer & explanation
Correct answer: C
Explanation
Given:
Cost Price = ₹10,000
Marked Price = 40% above the cost price
Discount = 10%
Marked Price = 10,000 × 1.40 = 14,000
Selling Price = 14,000 × 0.90 = 12,600
Profit = 12,600 − 10,000 = 2,600
Profit Percentage = (2,600 / 10,000) × 100 = 26%