Correct option is C
Given:
The retailer buys 20 pens at the marked price of 15 pens.
He gives a discount of 1% when selling the pens.
Concept Used:
The retailer is essentially getting 20 pens at the cost of 15 pens, which means he is buying each pen at a lower price.
Formula Used:
Cost Price (C.P.) per pen:
C.P.=20Marked Price of 15 pens (since he buys 20 pens at the cost of 15 pens)
Selling Price (S.P.) per pen:
S.P.=Marked Price of 1 pen−1% discount on Marked Price
Profit Percent:
Profit Percent=C.P.S.P.−C.P.×100
Solution:
Let the marked price of each pen be x.
Cost Price for each pen: Since the retailer buys 20 pens at the price of 15 pens, the cost price per pen is:
C.P.=2015x=43x
Selling Price for each pen: The retailer gives a discount of 1%, so the selling price per pen is:
S.P.=x−1001×x=x−0.01x=0.99x
Profit Percent:
Profit Percent=43x0.99x−43x×100 Profit Percent=0.75x0.99x−0.75x×100=0.75x0.24x×100=32%
Thus, the profit percentage of retailer = 32%
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