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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?16121413None

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?16121413None

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Solution

Let's solve this step by step:

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 145(because45145 (because 45% of 100 is 45,andaddingthistotheoriginalpricegivesus45, and adding this to the original price gives us 145).

Step 3: A discount of 20% is given on the marked price. So, the discount amount would be 20% of 145,whichis145, which is 29.

Step 4: So, the selling price of the article after the discount would be the marked price minus the discount amount, which is 145145 - 29 = $116.

Step 5: The profit earned is the selling price minus the cost price, which is 116116 - 100 = $16.

Step 6: The profit percentage is calculated as (Profit/Cost price) x 100. Substituting the given values, we get (16/100) x 100 = 16%.

So, the profit percentage is 16%.

This problem has been solved

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