Ramesh sells an article for Rs. 34,440, after allowing an 18% discount on the marked price and still manages to gain 40% profit. If Ramesh sold the article at a 12% discount on the marked price, then what will be his profit, correct to two places of decimals?

Correct option is C

Given:
The selling price of article =Rs34,440
Profit of Ramesh after discount=40%
Discount offered =18%
Formula Used:
Profit Percentage = $$\frac{ Profit}{(Cost \ Price)}× 100$$​​
Solution:
Let marked price of article be 100
Then selling price of article after discount = 100- 18%of100=82
So, 82 corresponds to actual value of Rs34,440
82≡34,440
​$$1≡\frac{34,440}{82} \\\ \\100≡\frac{34,440}{82}×100 = Rs 42,00$$​​
Marked price of article is Rs42,000
Now lets Cost Price of article is 100
Profit Ramesh made after allowing a discount =40%
Then, 100+ 40%of100
100+40= 140
But selling price of article is Rs34,440
​$$140≡34,440\\\ \\1≡\frac{34,440}{140} \\\ \\100≡\frac{34,440}{140}×100 = Rs 24,600$$​​
Cost price of article is Rs42,000
If Ramesh allows a discount of 12%then profit will be:
SP=42,000 - 12% of 42000
=42,000 - 5040
=Rs 36,960
Actual profit = Rs36,960 - Rs24,600
Rs 12,360
Profit percentage = $$\frac{12,360}{24,600}$$​× 100 = 50.24%