Question

A shop keeper marks his goods $20$% above the cost price, but allows $30$% discount for cash. Find his net loss.

• A. $8$%
• B. $10$%
• C. $16$%
• D. $20$%

Answer 1

Answer: (C)

$16$%

Let cost price of his goods be $x$

He lists his goods at $20\%$ above the cost price

$\Rightarrow$ Listed Price $=\frac{120}{100}x$

Further a discount of $30\%$ is given on the listed price

$\Rightarrow$ Selling price $=\frac{100-30}{100}\times \frac{120}{100}\times x$

$=\frac{84}{100}x$

$\therefore$ Shopkeeper suffers a loss of $16\%$