A cellphone was marked at 40% above the cost price and a discount of 30% was given on its marked price. Find the gain or loss per cent made by the shopkeeper.

Question

Philoid · Accepted Answer

Let × be the CP of the cellphone.

Market Price of the goods when goods is marked above 40% of CP

Market Price = × + (40x/100)

= 140x/100

=1.4x

Discount Offered = 30%

Discounted Amount = 30% of 1.40x

= 0.42x

Selling Price = Market Price – Discount

= 1.4 × – 0.42x

=0.98x

Since CP is more than SP, it is a case of Loss.

Loss = CP – SP

= × – 0.98x

= 0.02x

= 2%