Question

A cell phone was marked at 40% above the cost price and a discount of 30% was given on its marked price. Find the gain or loss percent made by the shopkeeper.
detail

Answer 1

Solutions :-


Let the cost price of cellphone be 100

So, M.P = 100 + 40% of 100
= 100 + 40
= 140


Now,
The discount given on its marked price = 30%

Discount = discount of M.P
= 30% of 140
= 0.3 × 140
= 42



Selling price = M.P - discount
= Rs (140 - 42)
= Rs 98


We have,
Selling price = Rs 98
Cost Price = Rs 100


Cost Price is greater than the selling price.

Therefore, Loss


Loss = C.P - S.P
= Rs (100 - 98)
= Rs 2


Loss% = (loss × 100)/C.P %
= (2 × 100)/100 %
= 200/100 %
= 2 %



Hence,

The Loss percent made by the shopkeeper is 2 %