An article is listed at Rs. 900 and two successive discounts of 8% and 8% are given on it. How much would the seller gain or lose, if he gives a single discounts of 16%, instead of two discounts?

A. Gain of Rs. 4.76

B. Loss of Rs. 5.76

C. Loss of Rs. 4.76

D. Gain of Rs. 5.76

Answer: Option B

Solution(By Examveda Team)

$$\eqalign{ & {\text{Loss}} = {\text{Rs}}.\left[ {\left( {92\% {\text{ of }}92\% {\text{ of }}900} \right)} - {\left( {84\% {\text{ of }}900} \right)} \right] \cr & = {\text{Rs}}.\left[ {\left( {\frac{{92}}{{100}} \times \frac{{92}}{{100}} \times 900} \right) - \left( {\frac{{84}}{{100}} \times 900} \right)} \right] \cr & = {\text{Rs}}.\left( {761.76 - 756} \right) = {\text{Rs}}.5.76 \cr & = {\text{Loss of Rs}}{\text{. }}5.76 \cr} $$