The marked price of an article is 45% more than its cost price. If a discount of 20% is given, then what is the profit percentage?
Question
The marked price of an article is 45% more than its cost price. If a discount of 20% is given, then what is the profit percentage?
Solution
Step 1: Let's assume the cost price of the article is $100.
Step 2: Given that the marked price is 45% more than the cost price, the marked price would be 100 = $145.
Step 3: A discount of 20% is given on the marked price, so the selling price would be 145 = $116.
Step 4: The profit made is the selling price minus the cost price, which is 100 = $16.
Step 5: The profit percentage is calculated as (Profit/Cost price) x 100. So, the profit percentage is (100) x 100 = 16%.
So, the profit percentage is 16%.
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