A shopkeeper marks his goods 20% above cost price, but allows 30% discount for cash payment. His net loss is ?
A. 8%
B. 10%
C. 16%
D. 20%
Answer: Option C
Solution(By Examveda Team)
Let the cost price of goods = Rs. 100Market price of goods
$$\eqalign{ & {\text{ = 120}}\% {\text{ of 100 }} \cr & {\text{ = }}\frac{{120}}{{100}} \times {\text{100}} \cr & {\text{ = Rs}}{\text{. 120}} \cr} $$
After discount selling price of goods
= 70% of 120
= Rs. 84
$$\eqalign{ & {\text{Loss = 100}} - 84 = {\text{Rs}}{\text{.16}} \cr & {\text{Loss }}\% {\text{ = }}\frac{{16}}{{100}} \times 100 = 16\% \cr} $$
Alternate :
$$\eqalign{ & {\text{Formula = }}x \pm y \pm {\text{ }}\frac{{x \times y}}{{100}} \cr & {\text{Loss}}\% {\text{ = 20}} - {\text{30}} - \frac{{20 \times 30}}{{100}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = - 10 - 6 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = - 16\% {\text{ }}({\text{Loss)}} \cr} $$
Related Questions on True Discount
The true discount on Rs. 2562 due 4 months hence is Rs. 122. The rate percent is:
A. 12%
B. 13%
C. 15%
D. 14%
A. Rs. 9025.20
B. Rs. 9200
C. Rs. 9600
D. Rs. 9560
A. Rs. 12,000 in cash
B. Rs. 12,880 at credit
C. Both are equally good
D. Rs. 18.33
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