Multiple choice

An article's list price is 10% more than its cost price. If the article is sold at a discount of 8% on its list price, then find the gain percentage.

  1. 1%

  2. 1.1%

  3. 1.2%

  4. 1.4%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let CP = 100. List Price = 110. Discount 8% of 110 = 8.8. Selling Price = 110 - 8.8 = 101.2. Gain = 101.2 - 100 = 1.2%.

AI explanation

Let the cost price be 100. The list price, being 10% more, is 110. An 8% discount on the list price means the selling price is 110 minus 8% of 110, which equals 101.2. Comparing this selling price to the original cost price of 100, the gain percentage is 1.2%.

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