Question : The marked price of an article is 160 percent of the cost price. If a 20 percent discount is given, then what will be the profit percentage?
Option 1: 28%
Option 2: 25%
Option 3: 22%
Option 4: 32%
Correct Answer: 28%
Solution :
Let the cost price be Rs. 100.
$\therefore$ Marked price of an article = 160% of the cost price = 160
Discount = 20% of marked price = 20% of 160 = 32
Now, Selling price = marked price – discount = 160 – 32 = 128
$\therefore$ Profit = selling price – cost price = 128 – 100 = 28
So, Profit percentage = $\frac{28}{100}×100=28\%$
Hence, the correct answer is 28%.
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