Question
Download Solution PDFThe cost price of an article is 64% of its marked price. If the article is sold at 12% discount on the marked price, then profit percent is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost Price (CP) = 64% of Marked Price (MP)
Discount = 12% of Marked Price (MP)
Formula used:
Profit Percentage = Profit/Cost Price × 100
Profit = Selling Price (SP) - Cost Price (CP)
Selling Price (SP) = Marked Price (MP) - Discount
Calculation:
Let Marked Price (MP) = ₹100
⇒ Cost Price (CP) = 64% of ₹100 = ₹64
⇒ Discount = 12% of ₹100 = ₹12
⇒ Selling Price (SP) = ₹100 - ₹12 = ₹88
⇒ Profit = SP - CP = ₹88 - ₹64 = ₹24
⇒ Profit Percentage = (Profit/Cost Price) × 100
⇒ Profit Percentage = (24/64) × 100 = 37.5%
∴ The correct answer is option (3).
Last updated on Sep 27, 2023
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