Question : A merchant increases the cost price of an item by 30% and offers a discount of 15% on this marked price. What is his profit percentage?
Option 1: 10.5%
Option 2: 8.2%
Option 3: 9.5%
Option 4: 11.4%
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Correct Answer: 10.5%
Solution :
Let the cost price of goods be Rs.100
⇒ Marked price of goods $= 100 × \frac{130}{100} = \mathrm{Rs.}\ 130$
⇒ Selling price of goods $= 130 × \frac{100 - 15}{100} = \mathrm{Rs.}\ 110.5$
⇒ Profit % $= \frac{110.5 - 100}{100}×100 = 10.5\%$
Hence, the correct answer is 10.5%.
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