A dealer marks his goods at 30% above the cost price. Then he allows 35% discount on it. What would be his loss percentage?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e 15.5%
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Understanding |
Application |
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Calculate Marked price= [(100+ Mark up%)×CP]/100 Calculate Selling price= [(100 – Discount%)×MP]/100 Loss percentage =[(CP-SP)/CP]×100 |
Let Cost price = 100 MP = [(100+30)/100]×100 MP = [130/100]×100 MP = 130 SP = [(100-35)/100]×130 SP = 84.5 Loss percent = = [(100-84.5)/100]×100 = 15.5% |