Successive Discounts

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A shopkeeper marks a product 30%30\% above cost price and then offers two successive discounts of 10%10\% and 5%5\% on the marked price.

What is his overall profit or loss percentage on the cost price?

  1. A.

    11.15% profit

  2. B.

    10.35% profit

  3. C.

    8.50% profit

  4. D.

    5.00% profit

Answer

A

Explanation

Let cost price =100= 100.

Marked price =100×1.30=130= 100 \times 1.30 = 130.

After first discount (10%10\%): 130×0.90=117130 \times 0.90 = 117.

After second discount (5%5\%): 117×0.95=111.15117 \times 0.95 = 111.15.

Profit =11.15%= 11.15\%. Answer: A

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