A merchant marks his goods at 1000 and allows a discount of 20%. If he still gain 20%, then the cost price of the article is
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Step-by-step explanation:
Let be cost price =Rs.100
Then mark price =Rs.120
∴ Selling price =90% of 120
=
100
120×90
=Rs.108
Profit = Selling price− Cost price
=Rs.(108−100)=Rs.8
Profit % =
100
8×100
=8%
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