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    Question

    A shopkeeper marks his goods 40% above the cost price

    and then offers successive discounts of 10% and 15% on the marked price. What is his overall profit or loss percentage on the cost price?
    A 4% profit Correct Answer Incorrect Answer
    B 7.1% profit Correct Answer Incorrect Answer
    C 10% profit Correct Answer Incorrect Answer
    D 2.9% loss Correct Answer Incorrect Answer

    Solution

    ATQ, Let cost price (CP) = 100. Marked price (MP) = 100 × 1.40 = 140. After 10% discount: selling price = 140 × 0.90 = 126. After further 15% discount: selling price = 126 × 0.85 = 107.1. Profit = 107.1 − 100 = 7.1. Profit % = (7.1 / 100) × 100 = 7.1%.

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