A merchant marks his goods up by 40% and then offers a discount of 20% on the marked price. What % profit does the merchant make after the discount?  Pick.
A) 21%  B) 25%  C) 69%  D) 31%  E) 12%
Let the price be 100.   The price becomes 140 after a 40% markup.   Now a discount of 20% on 140.   Profit=112-100   12%   answer 12%
<result>E</result>
A merchant marks his goods up by 40% and then offers a discount of 20% on the marked price. What % profit does the merchant make after the discount?