Mohan got a 20% discount on the marked price when he bought a bag. He sold it for 40% more than what he paid for it. The profit percentage on the marked price is:
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Correct answer: D
Explanation
The correct answer is option 4 I.e. 12%.
Let MP = 100
CP = 100 - 20 = 80
SP = 80 × (140/100) = 112
Profit on MP = 112 - 100 = 12
Profit percentage on MP = (12/100) × 100 = 12%