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A trader marks his articles 20% more than the cost price. If he allows 20% discount, then find his gain or loss percent?

Correct answer: E. None of these

  • A. No profit No loss
  • B. 4% profit
  • C. 2% loss
  • D. 2% profit
  • E. None of these

Explanation

If the cost price is Rs. 100, the marked price is Rs. 120. A 20% discount gives a selling price of Rs. 120 x 0.80 = Rs. 96, which is a loss of Rs. 4 on Rs. 100, or 4% loss. The likely wrong choice is no profit or loss because the two 20% figures are incorrectly cancelled.

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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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