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Question : Mohan purchased a bag with a 20% discount on the labelled price. He sold it at a 40% profit on the price he bought. The percentage of profit on the labelled price is:

Option 1: 20%

Option 2:

12%

Option 3:

18%

Option 4:

24%


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 25th Jan, 2024

Correct Answer:

12%


Solution : Let the labelled price be $x$.
Purchasing price = $\frac{80}{100}×x= \frac{4x}{5}$
He sold it at a 40% profit on the price he bought.
So, Selling price $=\frac{140}{100}×\frac{4x}{5}=\frac{28x}{25}$
Profit = Selling Price – Labelled Price = $\frac{28x}{25}- x$ = $\frac{3x}{25}$
The percentage of profit on the labelled price $=\frac{ \frac{3x}{25}}{x}×100= \frac{3x}{25}×\frac{1}{x}×100=12$%
Hence, the correct answer is 12%.

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