Multiple choice

A retailer gets a discount of 40% on the printed price of an article. The retailer sells it at the printed price. What is the gain or loss percent?

  1. $12\%$ gain
  2. $12\%$ loss
  3. $66\dfrac 23\%$ gain
  4. $66\dfrac 23\%$ loss
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let printed price be 100. Discount = 40, so CP = 60. Selling price = 100. Profit = 100 - 60 = 40. Profit % = (40/60) * 100 = 66.67%.

AI explanation

Let the printed price be 100, so the retailer pays 60 after receiving the 40% discount. The retailer then sells the article for 100, earning a profit of 100 minus 60, or 40. Using the profit percentage formula, (Profit / Cost Price) * 100, the calculation is (40 / 60) * 100, which results in a 66 and 2/3 percent gain.

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