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Shopkeeper buys at ₹500, sells at 20% profit. Customer pays over 4 years at 5% simple interest per year. Find effective profit %.

1. 40%
2. 48%
3. 44%
4. 46%

Correct answer: 44%

Solution

SP=500×1.2=₹600. SI=600×5%×4=₹120. Total=₹720. Profit on CP₹500: 720-500=₹220. Profit%=220/500×100=44%.

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