Multiple choice

A trademan marks his goods at 20% above the cost price. He allows his customers a discount of 8% on marked price. Find out his profit percent.

  1. 16.4%

  2. 10.04%

  3. 20.4%

  4. 10.4%

  5. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let CP = 100. Marked Price = 120. Discount of 8% on 120 = 9.6. Selling Price = 120 - 9.6 = 110.4. Profit = 110.4 - 100 = 10.4%.

AI explanation

Assume the cost price is 100, which makes the marked price 120 after the 20 percent markup. Using the discount formula, the selling price is 120 multiplied by (1 minus 0.08), resulting in a selling price of 110.4. The profit percent is calculated as ((110.4 minus 100) divided by 100) multiplied by 100, yielding a profit of 10.4 percent.

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