Question : The marked price of an article is 160 percent of the cost price. If a 30 percent discount is given, then what will be the profit percentage?
Option 1: 10 percent
Option 2: 15 percent
Option 3: 12 percent
Option 4: 14 percent
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Correct Answer: 12 percent
Solution : According to the question ⇒ Marked price (MP) = 160% × Cost price (C) Let the cost price (C) = 100 So, MP = 160 Discount percentage (D) = 30% ⇒ Selling price = Marked price – Discount = 160 − 30% of 160 = 160 − 48 = 112 ⇒ Profit = Selling price − Cost price =112 − 100 = 12 Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}$ × 100 ⇒ Profit percentage = $\frac{12}{100}$×100 = 12% Hence, the correct answer is 12 percent.
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