Question : A dealer marks his goods at 20% above the cost price and allows a discount of 15%. What is his gain percentage?
Option 1: 3%
Option 2: 4%
Option 3: 2%
Option 4: 1%
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Correct Answer: 2%
Solution :
Assume the cost price is 100.
He marks up the price by 20%.
So, the marked price is 120.
Now, he gives a 15% discount on the marked price.
So, the selling price $=\frac{(100 - 15) × 120}{100} = \frac{85 × 120}{100} = 102$
So, his profit percentage = (102 – 100) = 2%
Hence, the correct answer is 2%.
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