Manik marks the price of his toys 40% above the cost price. If he allows 20% discount, then what is the profit or loss percentage?
Let cost price = Rs. $$100x$$
=> Marked price = $$100x+(\frac{40}{100}\times100x)=Rs.$$ $$140x$$
Discount % = 20%
=> Selling price = $$140x-(\frac{20}{100}\times140x)=Rs.$$ $$112x$$
$$\because$$ Selling price > Cost price, thus profit % = $$\frac{(112x-100x)}{100x}\times100=12\%$$
=> Ans - (B)
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