The marked price of an article is 120 percent of its cost price. Its selling price is 90 percent of the marked price. What is the profit percentage?
Show answer & explanation
Correct answer: B
Explanation
Let the cost price = ₹100
Marked price = 120% = ₹120
Selling price = 90% of the marked price
= 90/100 × 120 = ₹108
Profit = 108 - 100 = ₹8
Profit percentage = 8%