Multiple choice

A shopkeeper marks his goods $20$ $\%$ higher-than the cost price and allows a discount of $5$ $\%$. What is the percentage of his profit?

  1. $14$ $\%$
  2. $7$ $\%$
  3. $9$ $\%$
  4. $11$ $\%$
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A Correct answer
Explanation

Let CP = 100. Marked Price = 120. Discount = 5% of 120 = 6. Selling Price = 120 - 6 = 114. Profit = 114 - 100 = 14%.

AI explanation

Using the standard formula for profit percentage when marking up by x% and giving a discount of y%, calculate 20 minus 5 minus 20 times 5 divided by 100. This equals 15 minus 1, resulting in a 14% profit.

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