A shopkeeper sold an article after offering two successive discounts of 20% and 30%, respectively. If the marked price and the cost price of the article are Rs. 4,000 and Rs. 2,800, respectively, then find the percentage profit/loss incurred on selling the article.
ATQ, ATQ: Selling price of the article = 4,000 X 0.80 X 0.70 = Rs. 2,240 Profit earned on selling the article = 2,240 - 2,800 = - Rs. 560 (loss) Required loss percentage = (560 / 2,800) X 100 = 20%
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