Question
A shopkeeper marked an item Rs. 6,000 above its cost price. After giving a discount of 40%, the shopkeeper still made a profit of Rs. 2,400. Find the profit percentage earned.
Solution
Let the cost price (C.P.) of the item be Rs. x. The marked price (M.P.) = x + 6000. The selling price (S.P.) after a discount of 40% = 60% of M.P. S.P. = 0.6 × (x + 6000). Given, the shopkeeper made a profit of Rs. 2,400, so: S.P. = C.P. + 2400. 0.6(x + 6000) = x + 2400. 0.6x + 3600 = x + 2400. 3600 - 2400 = x - 0.6x. 1200 = 0.4x. x = 1200 ÷ 0.4 = 3000. S.P. = 3000 + 2400 = 5400. Profit percentage = (Profit ÷ C.P.) × 100 = (2400 ÷ 3000) × 100 = 80%. Correct answer: d.
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