Question

A trader marks his goods 20% above the cost price. He sells them at a discount of 20% . If the cost price is rupees 1100, what is his gain or loss percent?

Answer 1

The trader will suffer a loss, not gain.

Cost price =550

Selling price = 550 +20% of 550

=550+110

=660.

Now you allow a discount of 20% on selling price.

Discount =20 ÷100× 660

=132

New selling price (after discount) = 660–132

=528

Loss =550–528

=22.

So the trader will suffer a loss of 22 bucks.