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When S.P = 85, M.P = 100 //15% discount means on Rs 100, there is a discount of Rs 15, So, SP = 100 - 15 = 85
When S.P = 1, M.P = 100/85
When S.P = 2975, M.P = 100/85* 2975 = 3500
Now, M.P is 40% above C.P (on C.P of Rs 100, M.P is Rs 40 more, i.e 140)
so, when M.P = 140, C.P = 100
when M.P = 1, C.P = 100 / 140
when M.P = 3500, C.P = 100 /140 * 3500 = 2500
Again, Profit = S.P - C.P = 2975 - 2500 = 475
So, Profit % = Profit / C.P * 100
= 475 / 2500 * 100 = 19 %
When S.P = 1, M.P = 100/85
When S.P = 2975, M.P = 100/85* 2975 = 3500
Now, M.P is 40% above C.P (on C.P of Rs 100, M.P is Rs 40 more, i.e 140)
so, when M.P = 140, C.P = 100
when M.P = 1, C.P = 100 / 140
when M.P = 3500, C.P = 100 /140 * 3500 = 2500
Again, Profit = S.P - C.P = 2975 - 2500 = 475
So, Profit % = Profit / C.P * 100
= 475 / 2500 * 100 = 19 %
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