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in Profit and Loss by (72.6k points)
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The marked price of a radio is ₹ 480. The shopkeeper allows a discount of 10% and still gains 8%. If no discount is allowed, then his gain percent is:
1. 35%
2. 20%
3. 15%
4. 25%

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Best answer
Correct Answer - Option 2 : 20%

Given:

Marked price = Rs.480

Discount% = 10%

Profit% = 8%

Formula Used:

Discount% = (Marked price – Selling price)/Marked Price × 100

Profit% = (Selling price – cost price)/cost price × 100

Calculation:

10 = (480 – SP)/480 × 100

⇒ 48 = 480 – SP

⇒ SP = 480 – 48

⇒ SP = Rs432

Now, profit = 8%

8 = (432 – CP)/CP × 100

⇒ 8CP = (432 – CP) × 100

⇒ 8CP = 43200 – 100CP

⇒ 108CP = 43200

⇒ CP = 400

If no Discount is alowed, then SP will be 480.

∴ profit = 480 – 400 = 80

Profit% = 80/400 × 100 = 20%

∴ If no discount is allowed, then his gain percent is 20%

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