Question

A trader marks his goods 40% above the cost price. He sells them at a discount of 20%. What is his loss or profit percentage?​

Answer 1

Answer:

Let the cost price be X

∴ Market price = X +($\huge\bold{\frac{40}{100}}$)X

Selling price = 1.4X -  $\huge\bold{\frac{40}{100}}$×  $\huge\bold{\frac{1}{5}}$

                     = 1.4X - 0.28

                     = 1.12X

∴ Gain/Loss =   $\huge\bold{\frac{1.12X-X}{X}}$ × 100

                     = 12% profit