Question : A tradesman marks his goods at 26% above the cost price. He allows his customers a discount of 12% on the marked price. His profit percentage is:
Option 1: 10.88%
Option 2: 11.08%
Option 3: 10.50%
Option 4: 10%
Correct Answer: 10.88%
Solution : Let the cost price be 100. So, marked price = 100 + 26 = 126 He allows his customers a discount of 12% on the marked price. $\therefore$ Selling price = $\frac{100-12}{100}×126=110.88$ $\therefore$ Profit percentage $=\frac{110.88-100}{100}×100=10.88\%$ Hence, the correct answer is 10.88%.
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