A man bought a shirt at 20% discount on the labelled price. He sold it to another man at 12% profit on the labelled price. What was his per cent profit on the price he bought ?
A). 10 %
B). 20 %
C). 30 %
D). 40 %
40 %
Let the marked price be x
Therefore, 1st man paid x - 20x/100 = 4x/5
2nd man paid x + 12x/100 = 25x + 3x/25 = 28x/25
Profit = 28x/25 - 4x/5 = 28x - 20x/25 = 8x/25
Therefore, % profit = 8x/25/4x/5 x 100 = 8x/25 x 5/4x x 100 = 40