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%
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%.
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