7 Views

Question : A shopkeeper allows a 20% discount on the marked price of an article and he suffers a loss of 12%. If the article is sold at marked price, then what will be the profit percentage?

Option 1: 10%

Option 2: 12.5%

Option 3: 9.69%

Option 4: 8.33%


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: 10%


Solution : Given,
Discount = 20%
Loss = 12%
We know,
$\frac{\text{Marked price}}{\text{Cost Price}}=\frac{100\pm\text{Profit/Loss}}{100-\text{Discount}}$
⇒ $\frac{MP}{CP}=\frac{100-12}{100-20}$
⇒ $\frac{MP}{CP}=\frac{88}{80}$
⇒ $\frac{MP}{CP}=\frac{11}{10}$
If there is no discount, means discount = 0%, then profit%
⇒ $\frac{MP}{CP}=\frac{100+\text{profit}}{100-\text{discount}}$
⇒ $\frac{11}{10}=\frac{100+\text{profit}}{100}$
⇒ $110=100+\ \text{profit}$
⇒ Profit % = 10%
Hence, the correct answer is 10%.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books