X labeled an item with a 60% markup on the cost price and sold it for Rs. 480 after applying a 25% discount. Calculate the percentage profit earned by X if he sells the item for Rs. 464.
ATQ, Marked price of the item = 480/0.75 = Rs. 640 Cost price of the item = 640/1.60 = Rs. 400 Desired Profit % = [(464 – 400)/400] × 100 = 16%
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