A shopkeeper marked his article 25% above its cost price and offered a discount of 40%. If cost price of the article is Rs. 500, then find profit or loss of the shopkeeper on selling the article
Marked price of the article = 1.25 × 500 = Rs. 625 Selling price of the article = 0.6 × 625 = Rs. 375 Loss = 500 – 375 = Rs. 125
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