Profit and loss

Quantitative Aptitude (CGL)

Title

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Indian Economy - Understanding the basics of Indian economic system

In festival season, a shopkeeper allows a discount of 10% on every item. Even after giving the discount, he makes a profit of

20%. If he does not give any discount, then what will be his profit percent? (correct to 2 decimal places)

This questions was previously asked in

SSC CGL 23rd August 2021 Shift-1

33.33

33.43

- When a shopkeeper gives a 10% discount, it means the customer pays 90% of the item's marked price.

- Despite this discount, the shopkeeper earns a 20% profit. Let's assume the cost price (CP) is $100.

- With a 20% profit, the selling price (SP) becomes $120.

- To determine the marked price before the discount, divide the SP by 0.9 (since the customer pays 90% of the marked price): $120 / 0.9 = $133.33.

- If there were no discount, the shopkeeper would sell at the full marked price of $133.33.

- Calculate profit without discount: $133.33 - $100 = $33.33.

- Profit percentage without discount: ($33.33 / $100) × 100 = 33.33%.

Correct Answer: Option 3 - 33.33