A shopkeeper labels the price of article 15% above the cost price. If he allows Rs 51.20 discount on an article of Rs 1024. Find his profit percent.
9.72%
9.25 %
9 %
8.5%
Explanation:
According to the question,
If the label price = 115 then CP = 100.
So, label price = 1024 then the cost price is (100/115) $\times$ 1024 = 890.4347.
Now C.P(cost price) = 890.4347.
He allows 51.20 discount on S.P(selling price).
So, Original S. P= (1024 - 51.20) = 972.8.
So, Percentage Profit
=> [(S.P - C.P) $\times$ 100]/C. P
=> (972.8 - 890.4347)/890.4347 = 9.25%.