A retailer buys 120 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 correct choice from the following choices:
A) 210 B) 215 C) 212 D) 230 E) 320

Rationale: "let the market price of each pen be $ 1 then , cost price of 120 pens = $ 36 selling price of 120 pens = 99 % of $ 120 = $ 118.80 profit % = ( ( 82.80 * 100 ) / 36 ) % = 230 % answer d"
Answer: D