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The marked price of the goods for a shopkeeper was X. He marked them at a 20% higher price than the Cost price. Finally he sold the goods at 30% discount. Did he earn a profit or incur a loss percentage?1. 5.5% Profit2. 10% Profit3. 16% Loss4. 5% Loss5. 10% Loss |
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Answer» Correct Answer - Option 3 : 16% Loss Given: MRP = 20% more than C.P Discount = 30% Concept Used: Cost price × (100 + Profit %)/100 = Selling price Discount % = {(MRP - SP)/MRP} × 100 Calculation: Cost price = CP, Selling price = SP, Marked price = MRP Let CP be 100. MRP = 20% more than CP ⇒ MRP = 120 Discount = 120 × 30% ⇒ 36 SP = 120 - 36 ⇒ 84 ⇒ Loss = {(100 - 84)/100} × 100 ∴ Loss percent is 16% |
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