Question

a trader marks his goods 20% above the cost price he then sells them at the discount of 20% if the cost price is 550 what is the gain or loss and the gain or loss percentage

Answer 1

Given:
C.P= ₹ 550
M.P= 20% more than the C.P

M.P= C.P + 20%of C.P

M.P = 550+ (20/100)× 550

M.P = 550 + 110= 660

M.P= ₹ 660

Discount = 20%of M.P

Discount= (20/100)× 660

Discount= 2×66= 132

Discount= ₹132

S.P = M.P - Discount

S.P = 660- 132

S.P = ₹ 528

C.P > S.P

Loss= C.P - S.P

Loss= 550- 528

Loss= ₹ 22

Loss%=( loss/C.P)×100%

Loss% =( 22/550)×100

Loss%= 4%

Hence,the loss is ₹22 & loss% is 4%

==================================================================
Hope this will help you....

Answer 2

Solution :-

Given - Cost price of goods = Rs. 550

And, Marked Price = 20 % above the cost price

⇒ Marked Price = 550 + (550*20)/100

⇒ M.P. = 550 + 110

⇒ M.P. = Rs. 660

Now, The shopkeeper gives 20 % discount on M.P.

⇒ Discount = (660*20)/100

⇒ Discount = Rs. 132

Selling Price = Marked Price - Discount

⇒ S,P. = 660 - 132

S.P. = Rs. 528

Cost Price > Selling Price = Loss

Loss = Cost Price - Selling Price

⇒ Loss = 550 - 528

⇒ Loss = Rs. 22

Loss Percent = (Loss*100)/C.P.

⇒ (22*100)/550

⇒ 2200/550

⇒ 4 %

So, Loss is Rs. 22 and Loss Percent is 4 %

Answer.