Multiple choice

Passage

Directions: The table given below gives information about the profit percent earned by the shopkeepers (A - E) on various items. Shopkeeper/Item P Q R S T A 25% 20% 20% 30% B 18% 30% 15% 30% 20% C 12% 30% D 18% 25% 14% 15% E 15% 15% 18% 10%

If shopkeeper C offered 18% discount on product S and earned 29% profit, then what would be the profit percent, if the discount was 36%?

  1. 2.35%

  2. 1.30%

  3. 0.68%

  4. 0.21%

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

Profit = (SP - CP)/CP. If 18% discount on marked price M, SP = 0.82M. Profit 29% means 0.82M = 1.29 * CP, so M = 1.29/0.82 * CP. With 36% discount, SP = 0.64M. New SP = 0.64 * (1.29/0.82) * CP = 1.0068 * CP. Profit = 0.68%.

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