Question : The marked price of an article is 40% more than its cost price. If a 10% discount is given, what is the profit percentage?
Option 1: 10%
Option 2: 20%
Option 3: 26%
Option 4: 32%
Correct Answer: 26%
Solution :
Given:
The marked price of an article is 40% more than its cost price.
Let, the cost price be 100 units.
So, the marked price is (100 + 40% of 100) = 100 + 40 = 140 units
A discount of 10% on the marked price is given.
Hence, selling price is $140×\frac{90}{100}=126$ units
Profit = 126 – 100 = 26 units
Profit percentage = $\frac{\text{Profit}}{\text{Cost price}}×100=\frac{26}{100}×100=26$%
Hence, the correct answer is 26%.
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