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A shopkeeper labelled the price of his articles so as to earn a profit of 40% on the cost price. He then sold the

A shopkeeper labelled the price of his articles so as to earn a profit of 40% on the cost price. He then sold the articles by offering a discount of 20% on the labelled price. What is the actual percent profit earned in the deal? 1. 18% 2. 12% 3. 15% 4. Cannot be determined None of these 5.

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