A shopkeeper marks his goods 40% above cost and gives a discount of 10%. What is his profit percent? MCQ with Answer and Explanation

Explanation:
CP of 1 lemon = 1/2 = 0.5. SP of 1 lemon = 3/5 = 0.6. Profit = 0.6 - 0.5 = 0.1. Profit % = (0.1 / 0.5) * 100 = 20%.

Explanation:
Let original price = P. Reduced price = 0.8P. (400 / 0.8P) - (400 / P) = 5. (500 / P) - (400 / P) = 5. 100 / P = 5. P = 20.

Explanation:
Let Cost Price of 1 article = 1. Cost Price of 16 articles = 16. Selling Price of 16 articles = Cost Price of 20 articles = 20. Profit = 20 - 16 = 4. Profit percentage = (4 / 16) * 100 = 25%.