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Solutions
Let the CP of article is Rs 100
Then, SP = Rs. 120
In 2nd case: CP = Rs. 80
New SP = Rs. 112 (140% profit on 80)
If he sells it for Rs. (120-112=8) less then , CP = Rs. 100
If he sells it for Rs. 4 less then CP = (100/8) × 4 = Rs 50