Question : A tradesman marks his goods 20% above his cost price. If he allows his customer a 20% discount on the marked price, how much profit or loss does he make, if any:
Option 1: 2% loss
Option 2: 4% loss
Option 3: 1% profit
Option 4: 3% profit
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Correct Answer: 4% loss
Solution :
Given, a tradesman marks his goods 20% above his cost price.
Also, Discount given = 20%
Let Cost Price, CP = Rs. 100
Marked Price, MP = Rs. 120
Now, Discount = 20% of MP = $\frac{20}{100}×120$ = Rs. 24
Selling Price, SP = MP – Discount = Rs. (120 − 24) = Rs. 96
Loss percentage = $\frac{\text{CP – SP}}{\text{CP}}\times100$ = $\frac{100-96}{100}×100$ = 4%
Hence, the correct answer is a 4% loss.
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