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A trader marked the selling price of an article at 10% above the cost price. At the time of selling, he allows certain discount and suffers a loss of 1%. He allowed a discount of :

Correct answer: A. 10 %

  • A. 10 %
  • B. 10.5 %
  • C. 11 %
  • D. 12.5 %

Explanation

Take the cost price as Rs. 100, so the marked price is Rs. 110 and the selling price after a 1% loss is Rs. 99. The discount is (Rs. 110 - Rs. 99) / Rs. 110 x 100 = 10%, while the likely mistake is choosing 10.5% by subtracting percentages without using the marked price as the base.

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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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