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A person makes a profit of 20% by selling an article. If he purchased the articles at 20% less and sell it 10% more, what would be the new profit percentage?
1. 65%
2. 8%
3. 15%
4. 20%

1 Answer

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Best answer
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.

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