Question : A dealer marks his goods at 20% above the cost price and allows a discount of 15% on the marked price. What is his gain or loss percentage?
Option 1: 4% gain
Option 2: 2% loss
Option 3: 2% gain
Option 4: 4% loss
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Correct Answer: 2% gain
Solution :
Given:
A dealer marks his goods at 20% above the cost price and allows a discount of 15% on the marked price.
Let the cost price be 100.
So, the marked price is (100 + 20) = 120
We know, Selling price = $\frac{(100-\text{Discount%})}{100}\times \text{Marked price}$
Selling price = $\frac{(100-15)}{100}×120=102$
Profit = 102 – 100 = 2
Profit percentage is $\frac{2}{100}×100=2$%
So, his gain percentage is 2%.
Hence, the correct answer is 2% gain.
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