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Instructions
Study the information given below and answer the questions that follow:
An article was bought for 5600. Its price was marked up by 12%. Thereafter it was sold at a discount of 5% on the marked price:
Solution
C.P. = Rs. 5,600
M.P. = $$\frac{112}{100} * 5600$$ = Rs. 6,272
Discount = 5% of 6272
= $$\frac{5}{100} * 6272$$ = Rs. 313.6
=> S.P. = 6272 - 313.6 = Rs. 5,958.4
$$\therefore$$ Profit % = $$\frac{5958.4 - 5600}{5600} * 100$$
= $$\frac{358.4}{56}$$ = 6.4%
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