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A shopkeeper marked an article at 20 % more than the price he paid for it. If he allows a discount of 20% on the marked price while selling it, what would be his profit or loss per cent?
1. No profit no loss
2. Profit 4%
3. Loss 4%
4. Percent of profit or loss cannot be calculated

1 Answer

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Best answer
Correct Answer - Option 3 : Loss 4%

Given:

Discount = 20%

Formula used:

SP = MP × (100 - D%)/100

Loss% = [(Cost Price - Selling Price)/Cost Price] × 100

Calculation:

Let the cost price of the article be 100x

So, marked price of article = 120x

after 20% discount on the marked price 

Selling  Price = 120x(100 - 20)/100

⇒ 120x × 80/100

⇒ 96x 

Loss% = [(Cost Price - Selling Price)/Cost Price] × 100

⇒ [(100x - 96x)/100x] × 100

⇒ 4

∴ Shopkeeper has loss of 4%.

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