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Question 65
A cell phone was marked at 20% above the cost price and a discount of 10% was given on its marked price. What is the profit percentage?
Solution
Let the cost price be 100.
Marked price = 100 $$\times$$ 120/100 = 120
Discount = 10%
Selling price = 120 $$\times 90/100 = 108
Profit = 108 - 100 = 8
Profit percentage = $$\frac{8}{100} \times$$ 100 = 8%
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