A shopkeeper marked the price 18% more than its cost price. If he allows a discount of 24%, then find his loss per cent.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 10.32%.
Let the cost price be 100.
⇒ MP = 118% of 100 = 118
Now, SP = MP × (100 - D)/100
⇒ 118 × (100 - 24)/100
⇒ 118 × 76/100 = 89.68
Now, loss % = 100 - 89.68 = 10.32%