Question
Download Solution PDFA trader marked the selling price of an article at 20% above the cost price. At the time of selling, he allows certain discount and suffers a loss of 10%. He allowed a discount of:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
A trader marked the selling price of an article at 20% above the cost price. At the time of selling, he allows a certain discount and suffers a loss of 10%.
Formula used:
Marked Price (MP) = Cost Price (CP) + 20% of CP
Selling Price (SP) = MP - Discount
SP = CP - 10% of CP
Calculation:
Let the Cost Price (CP) be 100.
Marked Price (MP) = 100 + 20% of 100
⇒ MP = 100 + 20 = 120
Selling Price (SP) = 100 - 10% of 100
⇒ SP = 100 - 10 = 90
Discount = MP - SP
⇒ Discount = 120 - 90 = 30
Discount percentage = (Discount / MP) × 100
⇒ Discount percentage = (30 / 120) × 100 = 25%
∴ The correct answer is option 1.
Last updated on Mar 19, 2025
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