In festival season, a shopkeeper allows a discount of 10% on every item. Even after giving the discount, he makes a profit of 20%. If he does not give any discount, then what will be his profit percent? (correct to 2 decimal places)
Answer & explanation
Correct answer: option 3
Discount = 10%
Profit = 20%
According to the question
⇒ (90% of MP) = (120% of CP)
\(\frac{MP}{CP}\) = \(\frac{4}{3}\)
Profit = (4 – 3) = 1
Profit% = \(\frac{1 × 100}{3}\)
⇒ 33.33%