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      Question

      A shopkeeper marks an item at Rs 2400 and allows a

      discount of 20% on the marked price. If his cost price is Rs 1600, find his profit percentage.
      A 20% Correct Answer Incorrect Answer
      B 13% Correct Answer Incorrect Answer
      C 17% Correct Answer Incorrect Answer
      D 11% Correct Answer Incorrect Answer

      Solution

      Marked price (MP) = 2400 Discount = 20% of 2400 = 480 Selling price (SP) = 2400 βˆ’ 480 = 1920 Cost price (CP) = 1600 Profit = SP βˆ’ CP = 1920 βˆ’ 1600 = 320 Profit% = (320 / 1600) Γ— 100 = 20% Answer: Profit percentage = 20%.

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