Question : A shopkeeper marked the price 18% more than its cost price. If he allows a discount of 24%, then find his loss percent.
Option 1: 16.43%
Option 2: 15.75%
Option 3: 10.32%
Option 4: 12.25%
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Correct Answer: 10.32%
Solution :
Let the cost price ($CP$) be 100.
Marked price ($MP$) after 18% profit, $MP=\frac{100\times (100+18)}{100}$ = 118
Selling price after 24% discount = $\frac{118\times(100-24)}{100}$
= $\frac{(118\times76)}{(100\times100)}$
= 89.68
Hence, loss percentage = $\frac{(CP-SP)}{CP}\times 100$
= $\frac{100 - 89.68}{100}\times 100$
= 10.32%
Hence, the correct answer is 10.32%.
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