A tradesman marked his goods at 26% above their cost price and then allowed a discount of 13%. His gain (in %) is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 9.62.
Let cost price = 100
Marked price = 100 + 26% of 100 = 100 + 26 = 126
Selling price = 126 − 13% of 126 = 126 - 16.38 = 109.62
Gain = 109.62 − 100 = 9.62
Gain % = × 100 = 9.62%