Multiple choice

A trader marked the selling price of an article at $10\%$ above the cost price. At the time of selling, he allows certain discount and suffers a loss of $1\%$. He allowed a discount of

  1. $9\%$
  2. $10\%$
  3. $10.5\%$
  4. $11\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Let CP = 100. Marked Price = 110. Loss of 1% means Selling Price = 99. Discount = Marked Price - Selling Price = 110 - 99 = 11. Discount percentage = (11/110) * 100 = 10%.

AI explanation

Assuming a cost price of 100, the marked price at 10% above the cost price is 110. Selling at a 1% loss means the selling price is 99. The discount amount is 110 minus 99, which is 11. Using the discount percentage formula, the discount is (11 divided by 110) times 100, resulting in 10%.

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