A tradesman marks his products 35% above the cost price and allows his customers 15% reduction on their bills. What percentage of profit does he make ?
Answer & explanation
Correct answer: option 3
Let the cost price of the article = 100
Markup = 35%
Discount = 15%
According to the question = 100 × \(\frac{135}{100}\) × \(\frac{85}{100}\) = 114.75
then the profit percentage = (114.75 - 100) × \(\frac{100}{100}\) = 14.75