A trader lists his articles 20% above C.P and allows a discount of 10% on cash payment. His gain percent is:
Correct answer: B. 8%
- A. 10%
- B. 8%
- C. 5%
- D. 6%
Explanation
Taking cost price as Rs. 100, the listed price is Rs. 120 and the cash selling price after a 10% discount is Rs. 120 x 90% = Rs. 108. The profit is Rs. 8 on Rs. 100, or 8%; the likely wrong choice is 10%, from subtracting the discount directly from the markup.
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About Profit and Loss
Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.
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