The marked price of a mobile phone is 12% more than its cost price. If a discount of 8% is given on the marked price, then the gain percent is:
Answer & explanation
Correct answer: option 3
(Let) CP (Then) MP
100 112
After a discount of 12% on mp the selling price = \(\frac{112 × 92}{100}\) = 103.04
Profit = 103.04 - 100 = 3.04%