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Atul bought an article, paying 5% less than the original price and sold it with 20% profit on the price he had paid. What percent of profit did he earn on the original price?1). 10%2). 13%3). 14%4). 17% |
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Answer» Atul bought an article, paying 5% less than the ORIGINAL PRICE. Let the original price of the article be x Then, Cost price for Atul = x – (5% of x) = 0.95x Now, Atul sold it with a 20% PROFIT on the price he had paid. Selling price = 0.95x + (20% of 0.95x) = 1.14x Profit earned on original price = $(\frac{{1.14x - x}}{x} \TIMES 100 = \;14)$ |
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