The selling price of an item is 20% less than its marked price. The marked price of the item is 30% more than the cost price. What is the profit percentage?
Answer & explanation
Correct answer: option 2
Let the cost price = 1000
CP MP SP
100----30%P------130----20%L-----104
Profit = 104 - 100 = 4
Profit% = 4 × \(\frac{100}{100}\) = 4%