The marked price of an article is 10% higher than cost price. A discount of 10% is given on marked price. In this kind of seller bears = ?
A. No loss No gain
B. A loss of 5%
C. A gain of 1%
D. A loss of 1%
Answer: Option D
Solution (By Examveda Team)
Let cost price of the article is = Rs. 100Marked price is 10% high of cost price mean = Rs. 110
Discount always given on marked price
10% discount of marked price means
$$ = \frac{{10}}{{100}} \times 110 = {\text{ Rs}}{\text{. 11}}$$
∴ Selling price = Marked price - Discount
Selling price = 110 - 11 = Rs. 99
$$\eqalign{ & \therefore {\text{Loss}}\% \cr & = \frac{{{\text{Cost price}} - {\text{Selling price}}}}{{{\text{Cost price}}}} \cr & \Rightarrow {\text{Loss}}\% = \frac{{100 - 99}}{{100}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{1}{{100}} \times 100 \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 1\% \cr} $$
This Question Belongs to Arithmetic Ability >> Profit And Loss
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