Question : A shopkeeper marks his goods at 90% more than their cost price and allows a discount of 40% on the marked price. His gain percentage is:
Option 1: 18%
Option 2: 16%
Option 3: 14%
Option 4: 12%
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Correct Answer: 14%
Solution : Let $100x$ be the cost price. Marked price = $100x$ + 90% of $100x$ = $190x$ Discount = 40% of marked price = 40% of $190x$ = $76x$ Selling price = Marked price – Discount = $190x-76x$ = $114x$ Gain = $114x-100x$ = $14x$ Gain percentage = $\frac{14x}{100x}×100$ = 14% Hence, the correct answer is 14%.
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