A trader bought an article for Rs. 1600 and marked it 25% above of its cost price. If he sold it after giving a discount of Rs. 160 then find the profit percent earned by him.
Marked price of the article = 1600 × 1.25 = Rs. 2000 Selling price = 2000 – 160 = Rs. 1840 Profit percentage = [(1840 – 1600)/1600] × 100 = 15%
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