Mangulal a shopkeeper, marks the prices of his goods at 20% higher than the original price. After that he allows a discount of 5%. What profit or loss did he get?
Correct Answer: 14% (profit)
Explanation:
Given that, a = 20% and b = 5% According to the formula
Required percentage = [20 - 5 - {20 x (5/100)}% = 14%
