A television costs₹20,500 for a trader. He fixes its marked price as₹24,000 and gives a discount of 15%.He further gives a discount of 5%for cash payment. Find his percentage of profit or loss.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e Loss 5.46%.
Apply First Discount 15% of ₹24,000 = ₹3,600
Selling Price after first discount = ₹24,000 - ₹3,600 = ₹20,400
Apply Second Discount 5% of ₹20,400 = ₹1,020
Final Selling Price (SP) = ₹20,400 - ₹1,020 = ₹19,380
Hence,
CP = ₹20,500 and SP = ₹19,380
Loss = ₹20,500 - ₹19,380 = ₹1,120
Loss Percentage = (1120 / 20500) × 100 ≈ 5.46%