Solution -
Let,
C.P. = 100
There was a profit of 40%.
S.P. = 100 + 100 × (40/100)
S.P. = 140
Now,
C.P. = 100
But,
There is a Discount of 20%.
S.P. = 140 - 140 × (20/100)
S.P. = 140 - 28
S.P. = 112
Profit = S.P. - C.P.
= 112 - 100
= 12
Profit percentage = (12/100) × 100
= 12%
Hence,
The correct answer is option (d) 12%.
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