Question : A salesman marks his goods 30% above the cost and gives a discount of 10% on them. Find his gain or loss percentage.
Option 1: Loss 7%
Option 2: Gain 7%
Option 3: Loss 17%
Option 4: Gain 17%
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Correct Answer: Gain 17%
Solution :
Let the cost price of goods be Rs.100.
Marked price of goods = $100 + \frac{30}{100} \times 100$ = Rs. 130
Discount = 10%
Selling price of goods = $130 -\frac{10}{100} \times 130$ = Rs. 117
∴ Profit % = $\frac{(117 - 100)}{100} \times 100$ = 17%
Hence, the correct answer is Gain 17%.
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