A bookseller sells a novel for ₹900 and makes a loss of 10%. To clear old stock, he decides to mark the novel at ₹720. He then allows a further discount of 5% on this marked price. What will be the percentage loss that he will incur on this clearance sale?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 31.6%.
CP of novel = 900 × 100/90
⇒ 9000/9 = 1000
Given, marked price = 720
Now, SP after discount = 720 × 95/100 = 684
So, new loss = 1000 - 684 = 316
Loss percentage = (316/1000) × 100 = 31.6%