The marked price of a cupboard is ₹3,200, which is 25% above the cost price. It is sold at a discount of 10% on the marked price. Find the profit percentage.
Show answer & explanation
Correct answer: C
Explanation
Given:
Marked Price (MP) = 3200
MP = 25% more than CP
Discount = 10%
By the formula:
MP = CP × (100 + 25)/100
SP = MP × (100 − 10)/100
Profit% = (Profit / CP) × 100
3200 = CP × 125/100
CP = 3200 × 100/125
CP = 2560
SP = 3200 × 90/100 = 2880
Profit = 2880 − 2560 = 320
Profit% = (320 / 2560) × 100 = 12.5%