If the selling price of an article is 90% of its marked price and the cost price is 80% of the marked price, what is the profit percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 12.5%.
Let MP = 100
SP = 90
CP = 80
Profit = 90 - 80 = 10
Profit percentage = (10/80) × 100 = 12.5%