Question

a cellphone was marked at40% above the cost price and a discount of 30% was given on its marked price. find the gain or loss per cent made by the shopkeeper

Answer 1

Lets consider the cost value as x

When price was market, it was marked 40% above the cost the price
--> x×1.4

then the seller had a discount of 30% on the cost

--> x×1.4×0.7
--> x×0.98

So we can see that he had a loss of 0.02 cost price which is 2 % loss