A tradesman marks his goods 30% more than the cost price…

A tradesman marks his goods 30% more than the cost price. If he allows a discount of $6\frac{1}{4}\%$ , then his gain percentage is:

Show answer & explanation

Correct answer: D

Explanation

The correct answer is option 4 i.e 22 $\frac{7}{8}\%$ .

Let cost price = 100

Marked price = 130

Discount = 6¼% of 130 = 130 × 1/16 = 8.125

Selling price = 130 − 8.125 = 121.875

Gain = 121.875 − 100 = 21.875

Gain% = (21.875 ÷ 100) × 100 = 21.875% ≈ 21.88% or 22 $\frac{7}{8}\%$

SSC MTS 2024 PYQ — Question 10