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A shopkeeper increases the cost price of an item by 20% and offers a discount of 10% on this marked price. What is his percentage gain?
- a)15%
- b)12%
- c)10%
- d)8%
Correct answer is option 'D'. Can you explain this answer?
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Verified Answer
A shopkeeper increases the cost price of an item by 20% and offers a d...
Let the cost price of the item = Rs. x
⇒ Increased cost price = marked price = Rs. 1.2x
⇒ Overall selling price = 1.2x × 0.9 = Rs. 1.08x
Profit = Selling price - Cost price = 1.08x - x = Rs. 0.08x
∴ Percentage gain = 0.08x/x × 100 = 8%
⇒ Increased cost price = marked price = Rs. 1.2x
⇒ Overall selling price = 1.2x × 0.9 = Rs. 1.08x
Profit = Selling price - Cost price = 1.08x - x = Rs. 0.08x
∴ Percentage gain = 0.08x/x × 100 = 8%
Most Upvoted Answer
A shopkeeper increases the cost price of an item by 20% and offers a d...
Given:
Cost price (CP) = 100 (Assume)
Increase in CP = 20%
Marked price (MP) = 120 (CP + 20% of CP)
Discount offered = 10%
Selling price (SP) = 108 (MP - 10% of MP)
To find:
Percentage gain
Solution:
1. Calculation of selling price (SP)
MP = CP + 20% of CP
MP = 100 + 20 = 120
Discount = 10% of MP = 10% of 120 = 12
SP = MP - Discount = 120 - 12 = 108
2. Calculation of profit percentage
Profit = SP - CP = 108 - 100 = 8
Profit percentage = (Profit/CP) x 100
Profit percentage = (8/100) x 100 = 8%
Therefore, the percentage gain of the shopkeeper is 8%.
Cost price (CP) = 100 (Assume)
Increase in CP = 20%
Marked price (MP) = 120 (CP + 20% of CP)
Discount offered = 10%
Selling price (SP) = 108 (MP - 10% of MP)
To find:
Percentage gain
Solution:
1. Calculation of selling price (SP)
MP = CP + 20% of CP
MP = 100 + 20 = 120
Discount = 10% of MP = 10% of 120 = 12
SP = MP - Discount = 120 - 12 = 108
2. Calculation of profit percentage
Profit = SP - CP = 108 - 100 = 8
Profit percentage = (Profit/CP) x 100
Profit percentage = (8/100) x 100 = 8%
Therefore, the percentage gain of the shopkeeper is 8%.
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A shopkeeper increases the cost price of an item by 20% and offers a discount of 10% on this marked price. What is his percentage gain?a)15%b)12%c)10%d)8%Correct answer is option 'D'. Can you explain this answer?
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