A shopkeeper marks his goods $40\%$ above CP and offers a $20\%$ discount. His gain percent is

A shopkeeper marks his goods $40\%$ above CP and offers a $20\%$ discount. His gain percent is
  1. $10\%$
  2. $12\%$
  3. $15\%$
  4. $20\%$

Solution

Let CP $= 100$. MP $= 140$. SP $= 140 \times 0.80 = 112$. Gain\% $= 12\%$.

Asked in: IMO

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