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Marked price = 2× cost price. Find profit% if sold at 40% discount.

1. 10%
2. 15%
3. 20%
4. 25%

Correct answer: 20%

Solution

MP=2×CP. At 40% discount: SP=MP×0.60=2CP×0.60=1.2CP. Profit=(SP-CP)/CP×100=(0.2CP/CP)×100=20%.

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