The marked price of an article is 45% more than its cost price. If a discount of 20% is given, then what is the profit percentage?
Question
Solution 1
Step 1: Let's assume the cost price of the article is $100.
Step 2: Given that the marked price is 45% more than the cost price, the marked price would be $145 (100 + 45% of 100).
Step 3: A discount of 20% is given on the marked price. So, the selling price would be $116 (145 - 20% of 145).
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