Profit & Loss · Question 29 · Hard
Profit & Loss question 29
A retailer marks a refrigerator 30% above its cost price. He allows a 10% discount and then a further 5% discount on the reduced price. What is his profit percentage?
- 11.15%
- 15%
- 11.5%
- 13.5%
Answer and explanation
Answer: A. 11.15%
Explanation: Take CP = 100. MP = 130; after 10% off = 117; after a further 5% off = 111.15. Profit = 11.15%.
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