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    Question

    An article with cost price of Rs. 300 is marked (50/3)%

    above its cost price and sold after a discount of 20%. Find the overall profit/loss in the transaction.
    A Rs. 10 loss Correct Answer Incorrect Answer
    B Rs. 30 gain Correct Answer Incorrect Answer
    C Rs. 15 gain Correct Answer Incorrect Answer
    D Rs. 20 loss Correct Answer Incorrect Answer

    Solution

    Marked price of the article = 300 + 300 X (50/300) = Rs. 350

    So, selling price of article = 350 X 0.8 = Rs. 280

    So, overall loss = 280 - 300 = Rs. 20

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