The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price, in this kind of sale the seller
Correct answer: C. loses 1%
- A. Bears no loss no gain
- B. gains
- C. loses 1%
- D. None of these
Explanation
Let the cost price be Rs. 100, making the marked price Rs. 110. After a 10% discount, the selling price is Rs. 110 x 90% = Rs. 99, which gives a loss of Rs. 1 or 1%; the likely wrong choice is no loss or gain, from assuming equal 10% increases and decreases cancel.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
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.
Practise Arithmetic
1,060 free Arithmetic MCQs from Mathematics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Mathematics questions like this
Mathematics is on 76 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Profit and Loss questions
A man purchases an electric heater whose printed price is 160 if he received two successive discounts of 20% and 10% he paid:
The difference between a discount of 40% on Rs. 500 and two successive discount of 36% and 4% on the same amount is:________?
A cloth merchant has announced 25% rebate in prices. If one needs to have a rebate of Rs. 40. Then how many shirts each costing Rs.32 he should purchase?
A trader lists his articles 20% above C.P and allows a discount of 10% on cash payment. His gain percent is:
While selling the watch, a shopkeeper gives a discount of 5% if he gives a discount of 7 % he earns Rs. 15 less as profit. The marked price of the watch is:
A Shopkeeper earns a profit of 12% on selling a book at 10% discount on the printed. The ratio of the cost price and the printed price of the book is: