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(i) A man bought a machine for cash 40,000 and later sold it for cash 50,000. Calculate his % profit on the cost price. (ii)

(i) A man bought a machine for cash 40,000 and later sold it for cash 50,000. Calculate his % profit on the cost price.

(ii) If a discount of 5% was awarded in (i) above calculate the selling price.

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