Question : The marked price of the cupboard is INR 15,750, which is 50% above its cost price. It is sold at a discount of 40%. What is the profit/loss percentage?
Option 1: Profit, 10%
Option 2: Loss, 10%
Option 3: Loss, 20%
Option 4: Profit, 20%
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Correct Answer: Loss, 10%
Solution :
MP is 50% more than CP
Here the cost price is denoted by CP, the selling price is denoted by SP, and the marked price is denoted by MP.
Let CP = 100$x$
So, MP = 150% of $x$ = 150$x$
After discount of 40%, SP = 60% of 150$x$
= 90$x$
So, loss = 100$x$ - 90$x$ = 10$x$
Loss% = $\frac{\text{Loss}}{\text{CP}}$ × 100
= $\frac{10x}{100x}$ × 100
= 10%
Hence, the correct answer is Loss, 10%.
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