Question : A shopkeeper marks his goods at 80% more than their cost price and allows a discount of 48% on the marked price. His loss percentage is:
Option 1: $2\frac{1}{5}\%$
Option 2: $7\frac{3}{5}\%$
Option 3: $6\frac{2}{5}\%$
Option 4: $3\frac{1}{5}\%$
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Correct Answer: $6\frac{2}{5}\%$
Solution :
Let the cost price of goods be Rs.100.
Marked price of goods = 100 + $\frac{80}{100} \times 100$ = Rs. 180
Discount = 48%
Selling price of goods = 180 – $\frac{48}{100} \times 180$ = Rs. 93.6
∴ Loss % = $\frac{(100 - 93.6)}{100} \times 100$ = 6.4% = 6$\frac{2}{5}$%
Hence, the correct answer is $6\frac{2}{5}\%$.
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