Profit and loss

Quantitative Aptitude (CGL)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

A shopkeeper allows 16% discount on every item. Even after giving the discount, he makes a profit of 8%. If he gives 8%

discount instead of 16% on an item marked for Rs1800, then what will be his profit percent? (correct to 2 decimal places)

This questions was previously asked in

SSC CGL 16th August 2021 Shift-3

18.31

18.29

To solve the problem, follow these steps:

- Initial scenario:

- Original situation has a 16% discount, resulting in an 8% profit.

- Let the cost price be \( CP \).

- Selling price at 16% discount = 84% of marked price = 0.84 * 1800 = 1512.

- If 1512 is 108% of CP (since 8% profit), then CP = 1512 / 1.08 ˜ 1400.

- New scenario with 8% discount:

- Selling price becomes 92% of marked price = 0.92 * 1800 = 1656.

- Profit = 1656 - 1400 = 256.

- Profit percentage = (Profit/CP) * 100 = (256/1400) * 100 ˜ 18.29%.

- Conclusion:

- The profit percentage when an 8% discount is offered is approximately 18.29%.

- Hence, option 4 (18.29) is correct.