Shuarya marked an article at 40% above its cost price. He sells it after allowing a discount of 15%. The profit percentage of the article is:
Answer & explanation
Correct answer: option 3
Let the cost price of the article = 100
Markup = 40%
Then the marked price = 140
Discount = 15%
Selling price = 85% of 140 = 119
Profit% = (119 - 100) × \(\frac{100}{100}\) = 19%