Question:
Tick (✓) the correct answer:
The marked price of an article is 10% more than the cost price and a discount of 10% is given on the marked price. The seller has
(a) no gain and no loss
(b) 1% gain
(c) 1% loss
(d) none of these
Solution:
(c) 1% loss
Let the CP be Rs 100 .
Discount $=10 \%$ of $\mathrm{MP}$
Then, marked price $=$ Rs 110
$=(10 \%$ of Rs. 110$)$
$=$ Rs. $\left(110 \times \frac{10}{100}\right)$
$=$ Rs. 11
Now, $S P=(M P)-($ discount $)$
$\quad=R s(110-11)$
$\quad=R s 99$
$\therefore$ Loss percentage $=(100-99) \%=1 \%$
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