Question : A shopkeeper marked a product 40% above the cost price and sold the product for Rs. 3780 by giving a discount of 10%. The profit percentage of the shopkeeper is:
Option 1: 30%
Option 2: 26%
Option 3: 42%
Option 4: 14%
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Correct Answer: 26%
Solution :
Let the cost price be 100.
The shopkeeper marked his goods 40% above the cost price.
The marked price = 140
He then gave a 10% discount on the marked price,
The selling price $=\frac{90}{100}×140=126$
Given that the selling price is Rs. 3780.
So, the cost price when the selling price is Rs. 3780 $=\frac{100}{126}×3780=3000$
Since the selling price is more than the cost price, the shopkeeper makes a profit.
$\therefore$ Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100 = \left( \frac{3780 - 3000}{3000} \right) \times 100 = 26\%$
Hence, the correct answer is 26%.
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