Question : The marked price of an article is $40$% more than its cost price. If a $20$% discount is given on the marked price, then what will be the profit percentage?
Option 1: $15$%
Option 2: $12$%
Option 3: $10$%
Option 4: $8$%
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Correct Answer: $12$%
Solution :
Let the cost price be 100.
The marked price is 40% above the cost price = 140
Discount = 20%
$\text{Selling price} = \frac{100-\text{Discount}}{100}\times \text{marked price}$
⇒ $\text{Selling price} = \frac{100-20}{100}\times 140= \frac{80}{100}\times 140=112$
$\therefore$ Profit = Selling price – cost price = 112 – 100 = 12
So, the profit percentage $=\frac{\text{Profit}}{\text{Cost price}}\times 100=\frac{12}{100}\times 100 = 12$%
Hence, the correct answer is $12$%.
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