📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      A shopkeeper initially marked up the price of an item by

      50% above its cost. To make a sale, he offered two consecutive discounts: the first was 20%, and the second was m%. Unfortunately, this resulted in a 16% loss on the transaction. Calculate the value of 'm'.
      A 25 Correct Answer Incorrect Answer
      B 30 Correct Answer Incorrect Answer
      C 20 Correct Answer Incorrect Answer
      D 15 Correct Answer Incorrect Answer
      E 10 Correct Answer Incorrect Answer

      Solution

      Let the cost price of the article be Rs. ‘x’ Marked price of the article = x × 1.5 = Rs. ‘1.5x’ Selling price of the article = x × 0.84 = Rs. ‘0.84x’ 1.5x × 0.8 × {1 – (m/100)} = 0.84x Or, 1 – (m/100) = (0.84x/1.2x) Or, 1 – (m/100) = 0.7 Or, (m/100) = 0.3 So, m = 30

      Practice Next
      More Profit and loss Questions

      Relevant for Exams:

      ask-question