Discussion
If the cost price of an article is 50% of the marked price, then what is the profit percent after allowing a discount of 20%?
Answer: C
The profit is 60 per cent. Let the marked price be 100, so the cost price is 50. A discount of 20 per cent gives a selling price of 80.
\[ \text{profit} = 80 - 50 = 30 \]
\[ \text{profit \%} = \frac{30}{50} \times 100 = 60\% \]
Profit percent is always taken on the cost price, not on the marked price. The figure 50 per cent would be the profit with no discount, since 100 against 50 gives 50 on 50 or 100 per cent, not 50. The options 48 and 52 do not follow from the data.
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