Question

The selling price of an article is 20% less than its marked price, and the marked price is 30% above the cost price. Find the profit percent.

A) 8%
B) 10%
C) 12%
D) 15%

Answer 1

To find the profit percent, calculate the cost price, the marked price, and the selling price. Use the formula for profit percent and calculate the profit. The correct answer is not listed among the given options.

Step-by-step explanation:

To find the profit percent, we need to calculate the cost price, the marked price, and the selling price.

Let's say the cost price is $100.

The marked price is 30% above the cost price, so the marked price is:

Marked Price = Cost Price + 30% of Cost Price

Marked Price = $100 + ($100 * 0.30) = $130

The selling price is 20% less than the marked price, so the selling price is:

Selling Price = Marked Price - 20% of Marked Price

Selling Price = $130 - ($130 * 0.20) = $104

Profit = Selling Price - Cost Price

Profit = $104 - $100 = $4

Profit Percent = (Profit/Cost Price) * 100%

Profit Percent = ($4/$100) * 100% = 4%

The profit percent is 4%, which is less than the given options. Therefore, the correct answer is not listed.