Multiple choice

A man boys an article for $Rs. 80$ and marks it at $Rs. 120$. He then allows a discount of $40$%. What is the percentage of loss or gain?

  1. $12$%
  2. $10$% loss
  3. $10$% gain
  4. $12$% loss
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The cost price is 80. The marked price is 120. A 40% discount on 120 is 0.4 * 120 = 48. The selling price is 120 - 48 = 72. The loss is 80 - 72 = 8. The loss percentage is (8 / 80) * 100 = 10%.

AI explanation

Using the marked price and the discount percentage, the selling price is calculated as 120 - (40% of 120) = Rs. 72. Applying the profit and loss percentage formula, ((72 - 80) / 80) * 100, results in (-8 / 80) * 100, which is a 10% loss.

Keep practicing — related questions