A cellphone was marked at 40% above the cost price and a discount of 30% was given on its marked price. Find the gain or loss percent made by the shopkeeper
let us consider the CP of goods as x
The market price of the goods when goods marked above the 40% CP is
Market price = x + (40x/100) = 140x/100 = 1.4x
So the Discount = 30%
Discount amount = 30% of 1.40x = 0.42x
∴ The SP = Market price – Discount
= 1.4x – 0.42x= 0.98x
Since SP is less than CP it’s a loss
We know that, Loss = CP – SP
= x – 0.98x = 0.02x
∴ Loss % = (Loss × 100)/ CP
= (0.02x × 100)/ x
= 2%
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