Question : Ramlal marks up his goods by 40% and gives a discount of 10%. What is his net profit percentage?
Option 1: 24%
Option 2: 26%
Option 3: 28%
Option 4: 32%
Correct Answer: 26%
Solution :
Let the cost price be Rs. 100.
Ramlal marks up his goods by 40%.
So, marked price = (100 + 40) = Rs. 140
Now, he gives a discount of 10% on the marked price.
So, selling price $=\frac{90 × 140}{100} = 126$
Thus, the profit percentage = $\frac{(126 – 100)}{100}$ × 100 = 26%
Hence, the correct answer is 26%.
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