Traders mark their goods 20% higher than the price. Then sell at a 20% discount. If the cost is Rs.550, what is the profit or loss and the percentage of profit or loss ?

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22 Rs 4%

21 Rs 4%

20 Rs 4%

22 Rs 14%

answer is A.

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Detailed Solution

Concept-
In this question, you can find the profit or profit by first finding the marked price, then the discount, then using the formula to find the selling price from the specific data in question and see if the trader has a profit. Calculate the percentage of loss and profit, and finally use the percentage formula to find the percentage of wins or losses.

discount
Where

S.P is the selling price of the good
M.P is the list price of the item. To find the win / loss percentage, use the following formula:

First, you need to calculate the mark price of the item Since then, we have estimated the cost of goods that are Rs.550 And first and foremost, the quoted price is estimated 20% higher than the cost price. Therefore, use the above relationship to find the marked price.
Cost price

Marked price

80% of marked price is the selling price
Therefore, selling price

Loss

Rs
Loss

So, the loss is

and the loss percentage is

Hence, option 1 is correct.

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