A shopkeeper marks an article 40% above its cost price. He then allows two successive discounts of 18% and 5% on the marked price. Find the profit percentage.
9.06%
Take the cost price as 100. The article is marked 40% above cost, so the marked price is \(100 \times 1.40 = 140\).
Apply the first discount of 18%: \(140 \times (1 - 0.18) = 140 \times 0.82 = 114.8\).
Apply the second discount of 5% on the reduced price: \(114.8 \times (1 - 0.05) = 114.8 \times 0.95 = 109.06\).
The selling price is 109.06 while the cost price is 100, so profit is \(109.06 - 100 = 9.06\).
Profit percentage \(= \frac{9.06}{100} \times 100 = 9.06\%\).
Hence, the profit percentage is 9.06%.
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