Question

A shopkeeper marks on the article bought by at 30% above the cost price and allows a discount of 10% while selling it. What percentage of profit he gets?
1. 10%
2. \(12\frac{1}{2}\% \)
3. \(15\frac{1}{2}\% \)
4. 17%

Answer 1

Correct Answer - Option 4 : 17%

Given:

Mark price = 30% above the cost price

Discount = 10% 

Formula Used:

Selling price = Marked price × (100 - Discount%)/100

Profit = Selling price - Cost Price 

Profit % = (Profit × 100)/Cost price

Calculation:

Let assume that cost price be Rs.100

Marked price = 100 + 30% of 100

⇒ Rs.130

Selling price = Marked price × (100 - Discount%)/100

⇒ 130 × (100 - 10)/100

⇒ 117

Profit = Selling price - Cost Price 

⇒ 117 - 100 = 17

Profit % = (Profit × 100)/Cost price

⇒ (17 × 100)/100 = 17%

∴ The shopkeeper gets the profit of 17%