A shopkeeper sells a table at a discount of 20 and earns a profit of 60 If he sells the same t...........

Quantitative Aptitude (CGL) Profit and loss

A shopkeeper sells a table at a discount of 20% and earns a profit of 60%. If he sells the same table at 40% discount, then what will be his new profit percent?

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Explanation:

Let the Marked Price (Price before discount) of the table be Rs. 100
Selling Price = Marked Price - Discount
⇒ SP = 100 - (100*20)/100
⇒ 100 - 20
⇒ Rs. 80
So, Selling Price of the table after giving 20 % discount is Rs. 80
After giving 20 % discount, the shopkeeper still makes a profit of 60 %
Then,
Cost Price = (80*100)/160
= Rs. 50
So, the cost price of the table is Rs. 50
Now, the discount is allowed at the rate of 40 %.
Then, Selling Price of the table = 100 - (100*40)/100
⇒ 100 - 40= Rs. 60
So,
selling price of the table after allowing 40 % discount is Rs. 60
Cost Price is Rs. 50
Profit = SP - CP⇒ 60 - 50
Profit = Rs. 10
Profit % = (Profit*100)/CP
⇒ (10*100)/50
⇒ 1000/50
⇒ 20 %
So, the shopkeeper will earn 20 % profit if he allows 40 % discount (instead of 20 % discount) on the same table.