A retailer buys 100 pens at the market price of 36 pens from a wholesaler, if he sells these pens giving a discount of 1%, what is the profit % ? Choose the most appropriate option:
A) 110 B) 175 C) 212 D) 218 E) 220

Rationale: "let the market price of each pen be $ 1 then , cost price of 100 pens = $ 36 selling price of 100 pens = 99 % of $ 100 = $ 99 profit % = ( ( 63 * 100 ) / 36 ) % = 175 % answer b"
Answer: B