Correct Answer - Option 1 : 65%
Given:
A person makes a profit = 20%
Formula used:
Profit% = Profit/Cost Price × 100
Calculation:
Let the person bought an article for Rs. 100.
And since he gains 20% he sold it for Rs. 120
Now let's move to the second part of the question,
He purchased the article at 20% less
New Cost Price = 100 × (100 - 20)/100
New Cost Price = Rs. 80
The new selling price is
New Selling price = 120 (100 + 10)/100
New Selling price = Rs. 132
New profit percent = ((132 - 80)/80)× 100
⇒ 65%
∴ The new profit per cent is 65.