A shopkeeper marks up his articles at 40% above cost price. He sells 70% articles at marked price and rest at 40% discount. Find his profit percent.
Answer & explanation
Correct answer: option 2
Let cost price = 100
MRP = 100 × \(\frac{140}{100}\) = 140
↓
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70% Rest 30%
↓ ↓
98 42 at 40 % discount
↓ -40%
25.2
SP = 98 + 25.2 = 123.2
Profit % = \(\frac{123.2 - 100}{100}\) × 100 = 23.2%