Multiple choice

A fair price shopkeeper takes 10% profit on his goods. He lost 20% goods during theft. His loss percent is

  1. $12$
  2. $15$
  3. $20$
  4. $25$
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A Correct answer
Explanation

Let cost price be 100. Selling price is 110. He loses 20% of goods, so he only sells 80% of the goods. Total cost is 100. Revenue from 80% of goods is 80 * (110/100) = 88. Loss = 100 - 88 = 12. Loss percent = 12%.

AI explanation

Assume the shopkeeper has 100 goods costing 1 unit each, making the total cost 100 units. He sells the remaining 80 goods at a 10% profit, making the selling price 80 times 1.1, which is 88 units. The net loss is 100 minus 88, resulting in a 12% loss.

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