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When the MP of an article is increased by 25%, and the article is sold at a 40% discount on new MP, the profit becomes 3 times of the initial profit. The initial MP of the article is 60% above its CP. If the initial MP of the article is Rs. 2400, find the initial profit percent on that article?

When the MP of an article is increased by 25%, and the article is sold at a 40% discount on new MP, the profit becomes 3 times of the initial profit. The initial MP of the article is 60% above its CP. If the initial MP of the article is Rs. 2400, find the initial profit percent on that article? Correct Answer 6.67%

The initial MP of the article = Rs. 2400

So, the CP of the article = 2400 × 100/160 = Rs. 1500

The new MP of the article = 2400 × 125/100 = Rs. 3000

So, the new SP of the article = 3000 × 60/100 = Rs. 1800

The new profit on the article = 1800 – 1500 = Rs. 300

So, the initial profit on the article = 300/3 = Rs. 100

Required profit per cent = (100/1500) × 100 = 6.67%

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