Question

If a shopkeeper marks his item at 10% above the

c.p. and allows customers a discount of 2% for cash, then profit is

Answer 1

Profit is 8%.if he do that

Answer 2

The profit on the product is 7.8 %

GIVEN

Selling price = 10% above CP

Discount = 2%

TO FIND

Profit.

SOLUTION

We can simply solve the above problem as follows;

Let the cost price of the product = Rs 100

It is given,

Selling price = 10% above CP

So,

Selling Price of the product = 100 + 10% of 100 = 110 Rs

Now,

Discount% = 2% on Selling price

Discount = Rs 2.2

New Sp = Rs 107.8

Profit = Selling price(after discount) - Cost price

= 107.8 - 100

= 7.8

Profit% = (profit/cp) × 100

= (7.8/100)× 100

= 7.8 %

Hence, The profit on the product is 7.8 %

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