The marked price is 10% higher than the cost price. A discount of 10% is given on the marked price. The seller _____
A)loses 11%
B)loses 1%
C)bears no loss, no gain
D)gains 9%
E)gains 9.5%

Question

Quizplus · Accepted Answer

Assume cost price = 100, marked price = 100+10% = 110
10% Discount on marked price110 = 10 x 110/100 = 11 . Net sale price = marked price- discount = 110-11 = 99 . Loss = 99-100 =1 i.e. 1%
Key takeaway: In profit and loss problem, if absolute figures are not available it is easy to develop the problem taking 100 as base figure. Work out percent step by step.

The Marked Price Is 10% Higher Than the Cost Price