The cost price of an article is ₹500. A shopkeeper sells it at a discount of 20% on the marked price. If the marked price is ₹600, what is the shopkeeper's profit or loss percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 4% Loss.
SP = 600 × 80/100 = 480
CP = 500
Loss = 500 - 480 = 20
Loss percentage = (20/500) × 100 = 4%