The marked price of an article is Rs 600. A shopkeeper purchased it on two successive discounts of 10% and 20%. He spent Rs 68 on transportation and sold the article for Rs 600. Find his gain or loss percentage.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 20% Profit.
We know,
Selling price = Marked price × (100 - Discount)%
We have,
Marked price = Rs 600
The cost price of the article after two successive discounts for the shopkeeper = 600 × (100 - 10)% × (100 - 20)%
⇒ Rs 432
Cost price after spending Rs 68 on transportation = 432 + 68 = Rs 500
Now, the shopkeeper sold it for Rs 600
Profit = 600 - 500 = Rs 100
Profit % = (100/500) × 100 = 20%