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      Question

      A man sold an article for 20% profit. If the cost price

      of the article was 'y%' less, then he would've earned 50% profit by selling the article at the same price. Find the value of 'y'.
      A 10% Correct Answer Incorrect Answer
      B 20% Correct Answer Incorrect Answer
      C 15% Correct Answer Incorrect Answer
      D 25% Correct Answer Incorrect Answer

      Solution

      Let the initial cost price of the article be Rs. '100x'

      So, selling price of the article = 100x X 1.2 = Rs. '120x'

      So, new cost price of the article = 120x ÷ 1.5 = Rs. '80x'

      So, y = {(120x - 100x) /100x} X 100 = 20%

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