A retailer has fixed the List Price of an article at 20% above the cost price. If he offers a discount of Rs 2 for a
purchase of Rs 40. what is his gain or loss percentage?
Answers
Given :- A retailer has fixed the List Price of an article at 20% above the cost price. He offers a discount of Rs 2 for a purchase of Rs 40.
To Find :- what is his gain or loss percentage ?
Solution :-
Let us assume that, the cost price of the article was Rs. 100x .
So,
→ List price = 20% above CP = 120% of 100x = (120 * 100x)/100 = Rs. 120x .
now,
→ Discount given = Rs. 2 on purchase of Rs. 40
So,
→ Discount % = (2 * 100)/42 = (100/21)% .
then,
→ SP = {List Price * (100 - Discount %)} / 100
→ SP = [120x * {100 - (100/21)}] / 100
→ SP = [120x * (2000/21)]/100
→ SP = (120x * 2000) / (21 × 100)
→ SP = (120x * 20)/21
→ SP = (40x * 20)/7
→ SP = Rs. (800x/7)
as we can see that,
→ (800x/7) > 100x
→ SP > CP
therefore,
→ Profit = SP - CP
→ Profit = (800x/7) - 100x
→ Profit = (800x - 700x)/7
→ Profit = Rs. (100x/7)
hence,
→ Profit % = (Profit * 100)/CP
→ Profit % = (100x * 100) / (7 * 100x)
→ Profit % = (100/7)%
→ Profit % = 14.28% (Ans.)
∴ His gain % is equal to 14.28% .
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14 % is the gain if Marked price is 10 % above cost price and discount of Rs 2 for a purchase of Rs 40
Given : A retailer has fixed the Price of an article at 20% above the cost price.
He offers a discount of Rs 2 for a purchase of Rs 40.
To Find : his gain or loss percentage
Solution:
Cost Price = C
Marked Price = C + (20/100)C = 1.2C
offers a discount of Rs 2 for a purchase of Rs 40.
Marked Price = Rs 40
Selling Price = 40 - 2 = 38
1.2C = 40
=> C = 40/1.2
=> Cost Price = 100/3 Rs
SP > CP hence gain
Gain = 38 - 100/3
=> Gain = ( 114 - 100)/3
=> Gain = 14/3 Rs
Gain % = ( Gain/ cost Price ) * 100
= {( 14/3 )/ (100/3) } * 100
= 14 %
Gain percentage is 14 %
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