Question

A person marks his goods 10% above his cost price He then sells it by allowing a discount of 10% What is his profit or loss percent ?

Answer 1

Let his cost price be Rs.x
Then his marked price = Rs.$(x+\frac{10x}{100})=Rs.\frac{11x}{10}$
He then sells it at a discount of 10% on this marked price
$\therefore$ Discount = 10% of Rs. $\frac{11x}{10}=Rs.\frac{11x}{10}\times \frac{10}{100}=Rs.\frac{11x}{100}$
$\therefore$ His S.P. = Rs.$(\frac{11x}{10}-\frac{11x}{100})=Rs.\frac{110x-11x}{100}=Rs.\frac{99x}{100}$
Since his C.P. > S.P. hence there will be a loss
and loss = C.P. - S.P. = Rs.$(x-\frac{99x}{100})=Rs.\frac{x}{100}$
$\therefore$ Loss percent = $\frac{x}{100}\times \frac{1}{x}\times 100=1$
Hence the required loss = 1%