Tick (✓) the correct answer

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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