A shopkeeper marked a product 20 above the cost price and sold the product for Rs 3888 by giving two...........

Quant (SSC) Profit and loss

A shopkeeper marked a product, 20% above the cost price and sold the product for Rs. 3888 by giving two successive discounts of 10% each. Find the cost price of the product and the loss percentage of the shopkeeper.

4200, 7.4%

4000, 2.8%

4100, 5.1%

4050, 4%

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Explanation:

Selling price of the product = Rs. 3888
Overall discount percentage
= 10 + 10 – 10 x 10/100 = 19%
Marked price of the product = 3888 /0.81 = 4800
Cost price of the article = 4800 /1.2 = 4000
Reqd. loss % = 4000 – 3888 /4000 × 100 = 2.8%