Question : If the marked price is 75% more than the cost price and a discount of 40% is allowed on the marked price, then the percentage profit is:
Option 1: 6%
Option 2: 7%
Option 3: 8%
Option 4: 5%
Correct Answer: 5%
Solution :
Let the cost price be 100.
The marked price is 75% above the cost price = 175
Discount = 40%
Selling price = $\frac{100-\text{discount%}}{100}\times$ marked price
= $\frac{100-40}{100}\times175$
= $\frac{60}{100}\times175$
= $105$
Profit = selling price – cost price = 105 – 100 = 5
Profit percentage = $\frac{\text{profit}}{\text{cost price}}\times100=\frac{5}{100}\times100=5\%$
Hence, the correct answer is 5%.
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