A person bought an article and sold it at a profit of 20%. Had he bought it at 20% less, what would have been the profit percentage if the selling price had been the same?

Explanation

Let original cost price (CP) be 100. Selling price (SP) = 120. New CP = 100 - 20\% = 80. New profit = SP - \text{New CP} = 120 - 80 = 40. Profit percentage = (\frac{40}{80}) \times 100\% = 50\%.

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