A school bag is sold for Rs.540 after giving two successive discounts of 10% and 20%. If school bag is marked up by Rs.480 above its cost price, then find the profit/loss on the school bag.
Marked price = 540/(0.80 x 0.90) = Rs.750 Cost price of the article = 750 – 480 = Rs.270 Required profit = 540 – 270 = Rs.270
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