Question

A shopkeeper marks his goods 20% above cost price but allows 30% discount for cash payment his net loss is

Answer 1

1. let us assume he purchased product for 100/-
2. he marks his goods 20% above cost price.Hence cost price now becomes 120/-
3. but allows 30% discount on 120/-.Hence from this we get info that he selling at price of 84  

• ((30/100)*120=36/- i.e, he is reducing 36 on 120 .hence he is selling product for 84)

1. He purchased for 100 and sold it for 84.Hemce loss occured is 14%