A shopkeeper sells a table at a discount of 20 percent and earns a profit of 30 percent. If he sells the same table at 10 percent discount, then what will be his new profit or loss percent?
Answer & explanation
Correct answer: option 3
Let the MP = 100
According to the question,
if a discount of 20% is given a profit of 30% is earned
So, 80% of 100 = 130% of Cost price
CP = \(\frac{800}{13}\)
If a discount of 10% is given on MRP then the selling price = 90% of 100 = 90
Profit = 90 - \(\frac{800}{13}\) = \(\frac{370}{13}\)
Profit% = \(\frac{370}{13}\) × 100 × \(\frac{13}{800}\) = 46.25%