Question : A shopkeeper publishes a list of prices that are 60% above the CP. He proposes to give 20% discount. How much profit does he make?
Option 1: 35%
Option 2: 22%
Option 3: 18%
Option 4: 28%
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Correct Answer: 28%
Solution :
Let the cost price (CP) of the article be Rs 100.
Since the shopkeeper publishes prices 60% above the CP,
Marked price(MP) of the article = 100$\times\frac{160}{100}$ = Rs. 160
After a 20% discount on MP, the selling price of the article = 160$\times\frac{80}{100}$ = Rs. 128
Profit percentage = $\frac{\text{Selling price – Cost price}}{\text{Cost price}}×100$ = $\frac{128-100}{100}\times 100$ = 28%
Hence, the correct answer is 28%.
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