A particular store purchased a stock of turtleneck sweaters and marked up its cost by 20%. During the New Year season, it further marked up its prices by 25% of the original retail price. In February, the store then offered a discount of 10%. What was its profit on the items sold in February? Choose one:
A) 27.5 %  B) 30 %  C) 35 %  D) 37.5 %  E) 40 %

Rationale: "assume the total price = 100 x price after 20 % markup = 120 x price after 25 % further markup = 1.25 * 120 x = 150 x price after the discount = 0.9 * 150 x = 135 x hence total profit = 35 % option c"
Answer: C