The marked price of an article is ₹660. A shopkeeper allows a discount of 20% and still gets a profit of 10%. If he sells it for ₹470, his profit or loss per cent, correct to two decimal places will be:
Answer & explanation
Correct answer: option 4
The marked price = 660.
Discount = 20%
Profit = 10%
CP : MP = 80 : 110
\(\frac{CP}{660}\) = \(\frac{8}{11}\)
CP = 480
If he sells it = 470
loss% = \(\frac{480 - 470}{480}\) × 100 = 2.08%