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A shopkeeper marked an article 80% above its cost price and sold it after giving two successive discounts of 30% and 25% respectively. What is his profit/loss percentage?
- a)4
- b)4.50
- c)5
- d)5.50
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
A shopkeeper marked an article 80% above its cost price and sold it af...
Understanding the Problem
To calculate the profit or loss percentage of the shopkeeper, we need to follow these steps:
Step 1: Determine Cost Price (CP) and Marked Price (MP)
- Let the Cost Price (CP) be 100.
- The Marked Price (MP) is 80% above the CP, so:
- MP = CP + (80% of CP) = 100 + 80 = 180.
Step 2: Calculate Selling Price (SP) After Discounts
- The shopkeeper offers two successive discounts of 30% and 25%.
- First Discount:
- Discount = 30% of MP = 30% of 180 = 54.
- Price after first discount = MP - Discount = 180 - 54 = 126.
- Second Discount:
- Discount = 25% of the new price = 25% of 126 = 31.5.
- Price after second discount = 126 - 31.5 = 94.5.
Step 3: Calculate Profit or Loss
- Selling Price (SP) = 94.5.
- Cost Price (CP) = 100.
- Profit/Loss = SP - CP = 94.5 - 100 = -5.5 (This indicates a loss).
Step 4: Calculate Loss Percentage
- Loss Percentage = (Loss / CP) * 100.
- Loss Percentage = (-5.5 / 100) * 100 = 5.5%.
Conclusion
The shopkeeper incurs a loss of 5.5%. Therefore, the correct answer is option 'D'.
To calculate the profit or loss percentage of the shopkeeper, we need to follow these steps:
Step 1: Determine Cost Price (CP) and Marked Price (MP)
- Let the Cost Price (CP) be 100.
- The Marked Price (MP) is 80% above the CP, so:
- MP = CP + (80% of CP) = 100 + 80 = 180.
Step 2: Calculate Selling Price (SP) After Discounts
- The shopkeeper offers two successive discounts of 30% and 25%.
- First Discount:
- Discount = 30% of MP = 30% of 180 = 54.
- Price after first discount = MP - Discount = 180 - 54 = 126.
- Second Discount:
- Discount = 25% of the new price = 25% of 126 = 31.5.
- Price after second discount = 126 - 31.5 = 94.5.
Step 3: Calculate Profit or Loss
- Selling Price (SP) = 94.5.
- Cost Price (CP) = 100.
- Profit/Loss = SP - CP = 94.5 - 100 = -5.5 (This indicates a loss).
Step 4: Calculate Loss Percentage
- Loss Percentage = (Loss / CP) * 100.
- Loss Percentage = (-5.5 / 100) * 100 = 5.5%.
Conclusion
The shopkeeper incurs a loss of 5.5%. Therefore, the correct answer is option 'D'.
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Community Answer
A shopkeeper marked an article 80% above its cost price and sold it af...
Let CP = 100
MP = 180
So the answer = 100 – 94.50 = 5.50%
Hence, Option D is correct.
MP = 180
So the answer = 100 – 94.50 = 5.50%
Hence, Option D is correct.
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A shopkeeper marked an article 80% above its cost price and sold it after giving two successive discounts of 30% and 25% respectively. What is his profit/loss percentage?a)4b)4.50c)5d)5.50Correct answer is option 'D'. Can you explain this answer?
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A shopkeeper marked an article 80% above its cost price and sold it after giving two successive discounts of 30% and 25% respectively. What is his profit/loss percentage?a)4b)4.50c)5d)5.50Correct answer is option 'D'. Can you explain this answer? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about A shopkeeper marked an article 80% above its cost price and sold it after giving two successive discounts of 30% and 25% respectively. What is his profit/loss percentage?a)4b)4.50c)5d)5.50Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A shopkeeper marked an article 80% above its cost price and sold it after giving two successive discounts of 30% and 25% respectively. What is his profit/loss percentage?a)4b)4.50c)5d)5.50Correct answer is option 'D'. Can you explain this answer?.
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