A dealer marks his goods 40%above the cost price and allowys a discount of 15%. Find his profit percentage
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Let the original cost be x
Price after 40% markup:
40% markup = 0.4x
price after markup = x + 0.4x = 1.4x
Price after discount :
15% discount = 15% of 1.4x = 0.15(1.4x) = 0.21x
Price after discount = 1.4x - 0.21x = 1.19x
Find profit:
Profit = 1.19x - x = 0.19x
Find profit percentage:
Profit percentage = 0.19x/x x 100 = 19%
Answer: The dealer makes 19% profit.
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