The marked price of the cupboard is Rs. 15,750, which is 50% above its cost price. It is sold at a discount of 40% What is the profit/loss percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Loss, 10%
Given that
The marked price of the cupboard is Rs. 15,750
Discount % = 40%
The cost price = M.P./150% = 15750/1.5 = Rs. 10500
Selling price = 15750 × 60/100 = Rs. 9450
Loss = C.P. - S.P. = 10500 - 9450 = Rs. 1050
Hence, Loss% = (1050/10500) × 100 = 10 %