The cost price of 40 Magazines is the same as the selling price of 'P' articles. If the profit is 25%, then the value of 'P' is:

Let C.P. of each Magazine be Rs. 1

C.P. of P articles = Rs. P. 

S.P. of P articles = Rs. 40.

Profit = Rs. (40 - P)

Now, Gain% =  $\frac{Profit}{C.P}\times 100$ =  $\frac{40-P}{P}\times 100$ 

Here $\frac{40-P}{P}\times 100$= 25

-->P = 32.