(a) The cost price of the item sold at a loss
(b) The cost price of the item sold at a gain
20. If two successive discounts on an article are m% and n%, respectively, then a single discount equivalent to the two successive discounts will be (m+nmn/100)%
If three successive discounts on an article are l%, m%, and n%, respectively, then a single discount equivalent to the three successive discounts will be
A shopkeeper sells an item at Rs. z after giving a discount of d% on the labeled price. Had he not given the discount, he would have earned a profit of p% on the cost price. The cost price of each item is given by
Here are some profit and loss examples which will help candidates for understanding the profit and loss properly and according to the exam point of view. Candidates must try to solve thes profit and loss examples given below and verify your answers.
Q1. How much percent more than the cost price should a shopkeeper mark his goods so that after allowing a discount of 25% on the marked price, he gains 20%?
(A) 60%
(B) 55%
(C) 70%
(D) 50%
Ans: (A)
Solution: Let the cost price of goods be Rs 100.
Gain = 20%
Therefore, Selling price = Rs 120
Discount = 25%
Marked Price = (100/10025)x120 = Rs. 160 = 60% more
Q2. A dishonest dealer professes to sell his goods at the cost price but uses a false weight of 850 g instead of 1 kg. His gain percent is?
(A) 71 11/17%
(B) 11 11/17%
(C) 17 12/17%
(D) 17 11/17%
Ans: (D)
Solution: If a trader professes to sell his goods at cost price, but uses false weights, then
Gain% = {Error/(True value – Error) x 100}%
In the given question, Error = 1000 – 850 = 150
Thus, Gain% = {150/(1000 – 150) x 100}% = 17 11/17%
56 videos104 docs95 tests

1. What is a profit and loss statement? 
2. How is net profit calculated in a profit and loss statement? 
3. What is the significance of a profit and loss statement for a business? 
4. What are the components of a profit and loss statement? 
5. How can a profit and loss statement be used to analyze a company's performance? 
56 videos104 docs95 tests


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