Question
Download Solution PDFA dealer marks his goods 15% above the cost price. Then he allows 20% discount on it. What will be his loss percentage?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Marked price = 115% of Cost price
Discount = 20% of the Marked price
Formula used:
Loss = Selling price - Cost price
Loss percentage = Loss/Cost price × 100
Solution:
Let the cost price be Rs. 100.
Marked price = 115% of Rs. 100 = Rs. 115
Discount = 20% of Rs. 115 = Rs. 23
Selling price = Marked price - Discount = Rs. 92
Loss = Rs. 100 - Rs. 92 = Rs. 8
Loss percentage = Rs. 8/100 × 100 = 8%
Therefore, the dealer's loss percentage is 8%.
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