Question
Ajay lists an item at 42% higher
than its cost price and gives a 20% discount on this marked price. Determine the percentage of profit or loss.Solution
ATQ, Let the cost price of the item be '100p' Marked price of the item = 100p × 1.42 = Rs. '142p' Selling price = 142p × 0.8 = Rs. '113.6p' Since, cost price is less than selling price, the person has earned a profit of 113.6p - 100p = Rs. '13.6p' % gain = (13.6p/100p) × 100 = 13.6%
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