Question : A vendor bought a book, marked at INR 850 at successive discounts of 20% and 10%, respectively. He spent INR 55 on transport and sold the book for INR 980. What will be his profit percentage (rounded off to 2 decimal places)?
Option 1: 45.65%
Option 2: 48.25%
Option 3: 50.65%
Option 4: 46.93%
Correct Answer: 46.93%
Solution :
Marked price = INR 850
Price after 20% discount = INR $(850 - \frac{20}{100}\times 850)$ = INR 680
Price after further 10% discount = INR $(680 - \frac{10}{100}\times 680)$ = INR 612
Selling price = INR 980
Transport = INR 55
Total spent = INR (612 + 55) = INR 667
Profit percentage = $\frac{925 - 667}{667}\times 100$ = 46.93%
Hence, the correct answer is 46.93%.
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