Question : The marked price of an article is 20% more than its cost price. What is the profit percent if a 5% discount is given on the marked price?
Option 1: 5
Option 2: 14
Option 3: 15
Option 4: 25
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Correct Answer: 14
Solution : Let the cost price be Rs. 100. So, the marked price = (100 + 20) = Rs. 120 After a 5% discount the selling price = (120 – 120 × $\frac{5}{100}$) = Rs. 114 Therefore, the Profit percentage = $\frac{114-100}{100}×100$ = 14% Hence, the correct answer is 14.
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