A pen passing through two hands is finally sold at a profit of 44% of the original cost price. If the first dealer makes a profit of 20%, then the profit made by the second dealer is :
Answer & explanation
Correct answer: option 3
Use direct concept of successive percentage =
Successive = x + y + \(\frac{x × y}{100}\)
Successive = 20 + y + \(\frac{20 × y}{100}\) = 44%
y + \(\frac{20 × y}{100}\) = 24%
6y = 120%
y = 20%