A showroom owner sells a leather jacket for ₹ P and claims to make a profit of 10%. He plans to have stall in the trade fair and marks the same jacket at ₹ 2P, at the stall, he allows a discount of 20%. What will be the percentage profit that he will make at the trade fair?
Correct Answer: 76%
Explanation:
SP at the stall at the trade fair = 2P - 20% of 2P = 8P/5
CP of the jacket = (P x 100)/(100 + 10) = 10P/11
∴ profit = 8P/5 - 10/11 = 38P/55
∴ Profit per cent made at the trade fair = [(38P/55) / (10P/11)]x 100
= (38/5) x (1/10) x 100
= 76%
