A shopkeeper list a product at 25% above the cost price. If he offers two successive discounts of 16

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30 Aug 2022 Profit & Loss

A shopkeeper list a product at 25% above the cost price. If he offers two successive discounts of 16% and 8%, he loose Rs. 51 in this transaction. When he sells the same product at a straight discount of 24%, there is

OPtion

1) 7.5% Loss
2) 10% Gain
3) 5% Gain
4) 12% Loss
5) 7.5% Gain
6) 6.25% Loss
7) 2.5% Gain
8) 5% loss
9) 10% Loss
10) None of these

Solution

Let CP=Rs. x, then list price=Rs. 1.25x
SP after successive discounts of 16% and 8% = 1.25x*0.84*0.92 = 0.966x
Loss = CP - SP = x - 0.966x = 44
0.034x = 51
x = 1500
.'. List Price=1.25*1500=1830
SP after single discount of 24% = 1830*0.76 = 1425
Loss = 1500 - 1425 = 75
Percentage Loss = (75/1500)*100 = 5%

Correct Option: 8 Best Solution (0)