A shopkeeper marks up the cost price of an item by 50% and then gives a 20% discount on the marked price. If the profit earned by the shopkeeper is ₹660, what is the difference between the profit and the discount given?

₹440
₹540
₹330
₹280

Correct answer: ₹330

Solution

If cost price is 100, marked price becomes 150 after a 50% markup. A 20% discount on 150 gives a selling price of 120, so profit is 20 on cost price 100, i.e. 20%. Given profit is ₹660, the discount is 30% of cost price, i.e. ₹990, and the difference is ₹330.

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