an article is marked 60% above the cost price and sold at 20% discount. find the profit % made.
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Let the cost price of the article be x
Marked price of the article would be x + 60% of x
= x + 60x/100
= 160x/100
Selling price of the article would be,
SP = MP x (100-d%)/100
= 160x/100 x (100-20)/100
= 8x/5 x 80/100
= 8x/5 x 4/5
= 32x/25
Profit = SP - CP
= 32x/25 - x
= (32x-25x) / 25
= 7x/25
Profit % = Profit/CP x 100
= (7x/25) / (x) * 100
= 700/25
= 28%
Hence our profit % is 28%
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