The market price of an article was 40% more than its cost price. Rana was going to sell it at market price to a customer, but he showed Rana some defects in the article, due to which Rana gave him a discount of 28.57%. Next day he came again and showed Rana some more defects, hence he gave him another discount that was equal to 12.5% of the cost price. What was the approximate profit/loss to Rana ?

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Solution

Let the cost price be Rs. $100$
Then, market price is Rs. $140$
Now, the first discount is of $28.57 %$ Rs $140 =$ Rs. $40$
Hence, its selling price $= 140 - 40 =$ Rs. $100$
Now since Rana is selling at cost price, any further discount will be equal to loss percentage.
The next discount of $12.5 %$ will be the loss percentage to Rana.

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