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A shopkeeper sells a table at a discount of 20% and earns a profit of 60%. If he sells the same table at 40% discount, then what will be his new profit percent?
1. 20
2. 30
3. 35
4. 40

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Correct Answer - Option 1 : 20

Let the Cost price of the table be a

Since he gains a profit of 60%, the selling price = a + (60/100) × a = 1.6a

Let the Marked price of the table be b

⇒ b – (20/100) × b = 1.6a

⇒ b = 2a

Now, if he sells the table at 40% discount

⇒ New selling price will be = 2a – (2a) × (40/100)

⇒ New selling price = 1.2a

∴ New profit percent = [(1.2a – a)/a] × 100 = 20%

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