the marked prce of an article is rs2800 which is 40% above the cost price if it sold by allowing 20% discount. find of profit and loss​

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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