A dealer buys an article marked at Rs.30000 with two successive discounts of 20% and 5%. How spends Rs.1200 on repairs and sells it for Rs.30000, what is his profit/loss percent?
Show answer & explanation
Correct answer: B
Explanation
Correct Answer is option 2 i.e. 25% profit
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Understanding |
Application |
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Cumulative discount after 2 successive discounts of x and y% = x + y - xy/100 MP = 30000 Two successive discounts of 20% and 5% Expenses on repairs = 1200 SP = 30000
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Cumulative discount = 20 + 5 – 100/100 = 24% Hence, CP = 30000 × 0.76 = 22800 Additional expenditure = 1200 So, total C.P of article = 22800 + 1200 = 24000 Profit % = [(30000 – 24000/24000)] × 100 = 25% |