An article is marked at 100% above its cost price. After allowing two successive discounts of 5% and 20% respectively on the marked price, it is sold at x% profit. What is the value of x?
Answer & explanation
Correct answer: option 3
Let the CP = 100
MP of the article = 100 × \(\frac{200}{100}\) = 200
SP of the article after two discount = 200 × \(\frac{95}{100}\) × \(\frac{80}{100}\) = 152
Profit percentage = \(\frac{152 - 100}{100}\) × 100 = 52%