A retailer buys 80 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 answer:
A) 110
B) 115
C) 112
D) 118
E) 120

Rationale: "let the market price of each pen be $ 1 then , cost price of 80 pens = $ 36 selling price of 80 pens = 99 % of $ 80 = $ 79.20 profit % = ( ( 43.20 * 100 ) / 36 ) % = 120 % answer e ) 120"
Answer: E