Raman fixes the sale price of his goods at 16% above the cost price. He sells his goods at 12% less than the fixed price. Find the profit percentage correct to two places of decimal.

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Step 1: Let the cost price (CP) be 100 units.
Step 2: Fixed sale price is 16% above CP, so fixed price = 100 + 16 = 116 units.
Step 3: Actual selling price (SP) is 12% less than fixed price, so SP = 116 - 12% of 116 = 116 - (0.12 × 116) = 116 - 13.92 = 102.08 units.
Step 4: Profit = SP - CP = 102.08 - 100 = 2.08 units.
Step 5: Profit percentage = (Profit / CP) × 100 = (2.08 / 100) × 100 = 2.08%.
Therefore, the profit percentage is 2.08%.

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