An article passing through two hands is sold at a profit of 40% at the original cost price. If the 1st dealer makes a profit of 20%, then the profit per cent made by the second is
Correct Answer: 151/3%
Explanation:
Let CP = ₹ 100
Then, SP = ₹ 140
Let the profit made by the 2nd dealer = N%
Then, (100 + N)% of 120% of ₹ 100 = ₹ 140
⇒ [(100 + N)/100 x (120/100) ] / 100 = 140
⇒ 6(100 + N) = 700
⇒ 600 + 6N = 700
⇒ 6N = 100
∴ N = (100/6)% = (50/3) %
= 162/3
