A shopkeeper sold an article for ₹2400 at a 20% profit. The discount allowed on the article is 20%. If he allowed 10% discount on the article, then find the profit on the article.

₹690
₹380
₹560
₹700

Correct answer: ₹700

Solution

CP = 2400/1.2 = ₹2000. Discount = 20%: SP = MP×(1-0.20) = 0.8×MP = 2400 → MP = ₹3000. At 10% discount: SP = 3000×0.9 = ₹2700. Profit = SP - CP = 2700 - 2000 = ₹700.

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