Raman fixes the sale price of his goods at 16% above the cost price. He sells his goods at 12% less than the fixed price. Find the profit percentage correct to two places of decimal.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 2.08%.
Let's assume the goods' cost price (CP) = ₹100.
Fixed Price = 100 + (16/100) × 100 = ₹116
Selling Price (SP) = 116 - (12/100) × 116 = ₹102.08
Profit = SP - CP = 102.08 - 100 = ₹2.08
Profit Percentage = (Profit/CP) × 100 = (2.08/100) × 100 = 2.08%
Therefore, Raman's profit percentage is 2.08%