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A shopkeeper marked an article 60% above its cost price and allowed a 15% discount. He earned a profit of ₹72. If he had allowed a 30% discount, what would have been his profit (in ₹)?
- 24
- 30
- 34
- 20
Correct answer: 24
Solution
Let cost price be CP. Marked price = 160% of CP. After 15% discount, selling price = 85% of 160% = 136% of CP, so profit = 36% of CP = 72. Hence CP = 200. With 30% discount, selling price = 70% of 320 = 224, so profit = 224 - 200 = 24.
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