A shopkeeper bought an item for ₹600 and marked on it 50% higher than its cost price. He allowed 20% discount on it. Find his profit percentage.

20%

Cost Price (C) = 600

Marked Price (M) is 50% higher = 1.5*600 = 900

Discount = 20% of M = 0.2*900 = 180

Selling Price (S) = 900-180 = 720

Profit% = Profit*100/C = (720-600)*100/600 = 20

The correct answer is Option (1) → 20%