Question : A shopkeeper fixes the price of an article at 30% higher than its actual cost. If he sells at a 10% discount on the marked price then the profit is:
Option 1: 18%
Option 2: 19%
Option 3: 17%
Option 4: 20%
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Correct Answer: 17%
Solution :
Let the cost price be 100.
So, marked price = 100 + 30 = 130
Selling price = $\frac{100-10}{100}×130=117$
$\therefore$ Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100=\frac{117-100}{100}×100=17\%$
Hence, the correct answer is 17%.
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