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A man purchased an article for Rs. 1500 and sold it at 25% above the cost price. If he has to pay Rs. 75 as tax on it, his net profit percentage will be :
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- 20%
- 25%
- 30%
- 15%
Correct Option: A
Given that , Cost price of article = Rs. 1500
S.P. of article = | = Rs. 1875 | 100 |
Net S.P. after paying tax = Rs. (1875 – 75) = Rs. 1800
∴ Profit = 1800 – 1500 = Rs. 300
∴ Profit percent = | × 100 = 20% | 1500 |