Question : Peter bought an item at a 20% discount on its original price. He sold it with a 40% increase on the price he bought it. The new sale price is greater than the original price (in percent) by:
Option 1: 10%
Option 2: 8%
Option 3: 7.5%
Option 4: 12%
Correct Answer: 12%
Solution :
Let the original price be Rs. 100.
The cost price after 20% discount will be Rs. 80.
The selling price = 140% of Rs. 80 = $\frac{140}{100}\times80$ = Rs. 112
Percentage change = $\frac{112-100}{100}\times100$ = 12%
Hence, the correct answer is 12%.
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