A shopkeeper marks the price of a chair 30% more than the cost price a

1.	A shopkeeper marks the price of a chair 30% more than the cost price and allows a discount of 25%. Find his gain/loss.1. Gain Rs. 2.52. Loss Rs. 2.53. Gain Rs. 4.54. Loss Rs. 4.5
Answer» Correct Answer - Option 2 : Loss Rs. 2.5 Given: Market price = cost price + 30% of cost price Discount = 25% Formula used: Profit = selling price – cost price, if Selling price is more than cost price Loss = cost price – selling price, if selling price is less than cost price Selling price = market price – discount Calculation: Let the cost price is Rs. 100 Market price = Rs. 130 Selling price = Rs. 130 – 25% of 130 ⇒ Rs. 97.5 Selling price is less than cost price. So, there is loss Loss = Rs. 100 – Rs.97.5 ⇒ Rs. 2.5

A shopkeeper marks the price of a chair 30% more than the cost price and allows a discount of 25%. Find his gain/loss.1. Gain Rs. 2.52. Loss Rs. 2.53. Gain Rs. 4.54. Loss Rs. 4.5

Answer» Correct Answer - Option 2 : Loss Rs. 2.5

Given:

Market price = cost price + 30% of cost price

Discount = 25%

Formula used:

Profit = selling price – cost price, if Selling price is more than cost price

Loss = cost price – selling price, if selling price is less than cost price

Selling price = market price – discount

Calculation:

Let the cost price is Rs. 100

Market price = Rs. 130

Selling price = Rs. 130 – 25% of 130

⇒ Rs. 97.5

Selling price is less than cost price. So, there is loss

Loss = Rs. 100 – Rs.97.5

⇒ Rs. 2.5

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