A merchant marks a profit of 20% by selling an article. What would be the percentage change in the profit% had he paid 10% less for it and the customer paid 10% more for it?
Explanation:
Initially let the cost price = 100 and selling price = 120.
Later, CP = 100 × 0.9 = 90 and SP = 120 × 1.1 = 132.
∴ New Profit % = 132-9090 × 100 = 46.66%
% change in profit % = 46.66-2020 × 100 = 133.33%
Hence, option (c).
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