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
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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