Multiple Choice Questions on The marked price of the goods for a shopkeeper was X He marked them at a 20 higher price than the Co........... for IBPS RRB - Office Assistant/ Clerical Exam Preparation

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Multiple Choice Questions

The marked price of the goods for a shopkeeper was X He marked them at a 20 higher price than the Co...........

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    The marked price of the goods for a shopkeeper was X. He marked them at a 20% higher price than the Cost price. Finally he sold the goods at 30% discount. Did he earn a profit or incur a loss percentage?

    This questions was previously asked in
    RRB Clerk Prelims (19 Aug, 2023 Shift 1)
    View All RRBB Previous Year Papers

    5.5% Profit 

    Incorrect Answer

    10% Profit 

    Incorrect Answer

    16% Loss

    Correct Answer

    5% Loss 

    Incorrect Answer

    10% Loss

    Incorrect Answer
    Explanation:

    - Let's break this down. The cost price (CP) is X.

    - The marked price is 20% more. So, it becomes 1.2X.

    - A 30% discount on marked price means it's sold at 70% of 1.2X, which is 0.84X.

    - Selling at 0.84X when the cost was X means a selling price lower than the cost price.

    - Therefore, this results in a loss.

    Now to determine the loss percentage:

    - Loss = Cost Price - Selling Price = X - 0.84X = 0.16X.

    - Loss Percentage = (Loss/Cost Price) * 100 = (0.16X/X) * 100 = 16%.

    - The correct option is: Option: 3, 16% Loss

    By: Parvesh Mehta
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