The marked price of an article is Rs. 550. A shopkeeper allows a discount of 20% and still gets a profit of 10%. If he sells it for Rs. 470, his profit percent will be?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 17.5
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Concept |
Understanding |
Application |
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For x% discount: SP = MP × [100 – x]/100 For y% profit: CP = SP/[100 + x]/100 |
MP = Rs. 550 Discount = 20% Profit = 10%
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After 20% discount: SP = 550 × 0.8 = 440 Since he gets 10% profit: CP = 440/1.1 = 400 If SP = 470 Profit % = [(470 – 400)/400] × 100 = 70/4 = 17.5% |