A school bag is sold for Rs.360 after giving two successive discounts of 20% and 25%. If school bag is marked up by Rs.300 above its cost price, then find the profit/loss on the school bag.
Marked price = 360/(0.80 x 0.75) = Rs.600 Cost price of the article = 600 – 300 = Rs.300 Required profit = 360 – 300 = Rs.60
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