Question : A shopkeeper earns 20% profit on his goods. He lost 20% of his goods during a theft. What is his profit or loss percentage?
Option 1: 4% loss
Option 2: 4% gain
Option 3: 6% gain
Option 4: 6% loss
Correct Answer: 4% loss
Solution :
Let the total number of goods be 100 and the cost price (CP) of each good be Re 1.
CP of total goods = Rs. 100
The selling price (SP) of each good = Rs. 1.2
Now, 20% of goods are lost. Then, 80 will be left.
Total sale = 1.2 × 80 = Rs. 96
Loss = CP – SP = 100 – 96 = Rs. 4
Loss percentage = 4%
Hence, the correct answer is '4% loss'.
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