Math Problem Statement

If discount of 20% is given on marked price of an article then a shopkeeper get the profit of 20% what is his Profit% ? if discount offered by him changes to 30%.

Solution

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Math Problem Analysis

Mathematical Concepts

Percentage
Profit and Loss
Discount Calculation
Linear Equations

Formulas

Selling Price = Marked Price - (Discount% × Marked Price)
Profit% = ((Selling Price - Cost Price) / Cost Price) × 100

Theorems

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Suitable Grade Level

Grades 9-12