Cost price of two articles is same. 1st is sold at 20% profit and 2nd is sold at 20% profit. Find overall profit percent.
Answer & explanation
Correct answer: option 3
Let CP of each article = Rs. 100
Profit on 1st article = 100 × 20% = 20
Profit on IInd article = 100 × 20% = 20
Total profit = 40
Overall profit % = \(\frac{40}{200}\) × 100 = 20%