1.  The price of an article reduces to 576 after two successive discounts. The markup is 80% above the cost price of ₹ 500.What is the new profit percentage if instead of two successive discount the markup price was further increased successively two times by the same percentage?
A. 259.2%
B. 59.2%
C. 159.2%
D. Can’t be determined

Answer: Option C

Explanation:

Cost price (CP) = 500
Selling Price (SP) = 576
Mark-up price (MP) = 900

Again SP = MP [( 1 - r/100)2] [r - rate of discount in %]

576 = 900 (1 - r/100)2
24/30 = (1 - r/100)
r = 20%

Again, new SP = MP (1 + r/100)2

= 900 (1 + 20/100)2

= 1296

New, profit percentage = [(SP - CP)/CP] X 100

= [( 1296 - 500 ) / 500 ] x 100 = 159.2%