A shopkeeper earns 20% profit on his goods. He lost 20% of his goods during a theft. What is his profit or loss percent?
Answer & explanation
Correct answer: option 1
Let the total number of goods be 100 and CP of each good = Rs 1
CP of total goods = Rs 100
SP of each good = Rs 1.2
Now, 20% of goods are lost. Then, 80 will be left.
Total sale = 1.2 x 80 = Rs 96
Loss = CP - SP = 100 - 96 = Rs 4
Loss % = 4%