A shopkeeper marks his goods at 20% above the cost price. He sells 40% of the goods at the marked price and the remaining at 30% discount on the marked price. His gain loss percentage is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 1.6% loss.
Let CP = ₹100; Then MP = ₹120
40% of goods → at ₹120
60% of goods → at 30% discount on MP = 70% of ₹120 = ₹84
Total Revenue = (40/100 × 120) + (60/100 × 84) = ₹48 + ₹50.4 = ₹98.4
Total cost = ₹100
Profit/Loss = Revenue – Cost = ₹98.4 – ₹100 = ₹–1.6
So, Loss % = 1.6/100 × 100 = 1.6% Loss