Banking Exams Quant — Question 703
Question
A merchant marks goods 40% above cost. What discount % can he give to still make 12% profit?
- 18%
- 20%
- 22%
- 25%
Correct answer
B — 20%
Explanation (English)
Let CP=100. Marked=140. For 12% profit, SP=112. Discount = (140-112)/140×100 = 20%
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