A trader marks his goods at 50% above the cost price but allows a discount of 20% on the market price. The profit percent is:
Q1. A trader marks his goods at 50% above the cost price but allows a discount of 20% on the market price. The profit percent is:
Answer: 20%
Explanation: Mark-up to 150% of CP, then 20% discount gives SP = 1.5 × 0.8 × CP = 1.2 CP, a profit of 20%.