Paper 1 · Mathematical Reasoning and Aptitude
UGC NET December 2023 (08.12.2023) Shift-II
A person sells an item at a discount of 40 percent and still makes a profit of 20 percent. By what percentage was the marked price of the item more than the cost price of the item?
A50%
B100% ✓ Correct
C150%
D120%
Correct answer: (B) 100% — The marked price was 100 percent more than the cost price, so that is the answer.
Explanation
★The marked price was 100 percent more than the cost price, so that is the answer.
★Let the cost price be 100.
★A 20 percent profit makes the selling price 120.
★The selling price is 60 percent of the marked price after a 40 percent discount.
★So 60 percent of the marked price equals 120, giving a marked price of 200.
★That is 100 more than the cost of 100, so the marked price is 100 percent higher.
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