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      Question

      A shopkeeper buys an article for Rs 800. He marks it 50%

      above the cost price and allows a discount of 20% on the marked price. Find the selling price and profit percentage.
      A SP = Rs 900, Profit = 10%. Correct Answer Incorrect Answer
      B SP = Rs 960, Profit = 20%. Correct Answer Incorrect Answer
      C SP = Rs 860, Profit = 10%. Correct Answer Incorrect Answer
      D SP = Rs 770, Profit = 28%. Correct Answer Incorrect Answer

      Solution

      Cost Price (CP) = 800 Marked Price (MP) = 800 × (1 + 50/100) = 800 × 3/2 = 1,200 Discount = 20% of 1,200 = (20/100) × 1,200 = 240 Selling Price (SP) = 1,200 − 240 = 960 Profit = SP − CP = 960 − 800 = 160 Profit% = (160/800) × 100 = 20% Answer: SP = Rs 960, Profit = 20%.

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