Answer: Profit = Rs 240
Explanation:
The cost price will be:
= 2800 ÷ (100% + 40%)
= 2800 ÷ 140%
= 2800 ÷ 140/100
= 2800 × 100/140
= 2000
Cost price = Rs 2000
Since the article is sold by allowing 20% discount, the sales price will be:
= Rs 2800 - (20% × 2800)
= 2800 - (0.2 × 2800)
= 2800 - 560
= 2240
Selling price = Rs 2240
Therefore, profit = Rs 2240 - Rs 2000 = Rs 240
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