Question

The cost price of an article is Rs. 2400 and it is marked at 25% above the cost price. Find the profit and the profit percent, if an article is sold at 15% discount.
A. Rs. 120 and 3.37%
B. Rs. 130 and 4.25%
C. Rs. 140 and 6%
D. Rs. 150 and 6.25%

Answer 1

Hint: First find the marked price by adding 25% more to the cost price. Then find the sold price by subtracting 15% from the marked price. Subtract cost price from sold price to get the profit and for percent profit use the formula $\%\text{ profit}=\dfrac{profit}{\text{cost }price}\times 100$.

Complete step by step solution:
Given, the cost of an article $=$ Rs. 2400
As it is marked at 25% above the cost price.
So, to get it’s marked price we have to add 25% above the cost price of Rs. 2400
25% of Rs. 2400 $=2400\times 25%=2400\times \dfrac{25}{100}=600$
Hence, the marked price $=2400+600=3000$
Again it is given that the article is sold at 15% discount.
So, to get it’s sold price we have to subtract 15% from the marked price of Rs. 3000
15% of Rs. 3000 $=3000\times 15\%=3000\times \dfrac{15}{100}=450$
Hence, the sold price $=3000-450=2550$
Profit $=$ sold price $-$ cost price $=2550-2400=150$
Profit percent $=\dfrac{profit}{\text{cost }price}\times 100=\dfrac{150}{2400}\times 100=6.25\%$
This is the required solution.

Hence, D. is the correct option.

Note:
As this is a multiple choice question, so we can obtain the correct answer without even solving for the profit percent. For the above we obtained the profit as Rs. 150 and there is only one option with the same value. So, it must be the answer. Hence, we may not need to find the percent profit for this particular question.