Question : The marked price of an article is 20 percent more than its cost price. If 10 percent discount is given on the marked price, then what will be the profit percentage?
Option 1: 8%
Option 2: 15%
Option 3: 12%
Option 4: 10%
Correct Answer: 8%
Solution :
Let the cost price be 100.
Mark price is above 20% = 120
After discount of 10% = $\frac{90}{100}\times120$
Selling price = 108
Profit = Selling price – cost price
= 108 – 100 = 8
Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}\times 100$
= $\frac{8}{100}\times 100$
= 8%
Hence, the correct answer is 8%.
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