A shopkeeper marks an article at a place 20% higher than its cost price and allows 10% discount. Find his gain percentage.
Answer & explanation
Correct answer: option 2
Let , Cost price = Rs. 100x
According to the question,
Marked price = Rs. 120x
Again, Discount = 10%
Selling price = 90% of MP
= 90% of 120
= Rs. 108
Now , Gain% = \(\frac{108 - 100}{100}\) × 100
= 8%