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      Question

      A shopkeeper marks an item 50% above its cost price.

      During a sale, he provides two successive discounts of 20% and 10%. Calculate the profit percentage.
      A 7.5% Correct Answer Incorrect Answer
      B 7% Correct Answer Incorrect Answer
      C 8% Correct Answer Incorrect Answer
      D 8.5% Correct Answer Incorrect Answer

      Solution

      Let the Cost Price (CP) = โ‚นx. Marked Price (MP) = CP ร— 1.50 (since it's 50% above CP) = 1.5x Selling Price (SP) after two successive discounts of 20% and 10%: SP = 1.5x ร— (1 - 0.20) ร— (1 - 0.10) SP = 1.5ร—0.72x SP = 1.08x

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