An article is sold at a discount of 12.5%, and still there is a profit of 15%. At what approximate percentage over and above its cost price has the mark-up price of the article been fixed?
Answer & explanation
Correct answer: option 4
CP MP
100 - D% 100 + P%
100 - 12.5% 100 + 15%
87.5 115
He markup the article = (115 - 87.5) × \(\frac{100}{87.5}\) = 31.43%