By selling a product for Rs.520 how much profit was earned?

I. 12% discount on the market price.

II. The profit was one- third of the cost price.

From statement (i), we have only SP and MP but since, we have neither the CP nor the profit/loss, we cannot get the answer. From (ii), Let the CP be x and profit be x/3 . SP = CP + Profit 520 = x + x/3 520 = 4x/3 ∴x = Rs. 390 ∴ Profit = 390/3 = 130

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