Profit and loss

Quantitative Aptitude (MTS)

Title

45:30

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Indian Economy - Understanding the basics of Indian economic system

A shopkeeper marks up his price by 12% and then allows a 12% discount. What is his profit or loss percentage?

This questions was previously asked in

SSC MTS 21st July 2022 Shift-3

1.44% loss

1.2% profit

6% profit

4% loss

- A shopkeeper marks up an item's original cost by 12%. This means if the original cost is $100, the marked-up price becomes $112.

- He gives a 12% discount on $112. The discount amount is $13.44, bringing the selling price down to $98.56.

- The original cost of the item was $100, but it sells for $98.56.

- This results in a loss. The loss amount is $100 - $98.56 = $1.44.

- The loss percentage is calculated as (Loss/Original Cost) x 100.

- The loss percentage is (1.44/100) x 100 = 1.44%.

The correct option is Option 1: 1.44% loss