Profit and Loss – 04

5. A sold an article at 10% loss on the cost price. He had bought it at a discount of 20% on the labeled price. What would have been the percentage loss had he bought it at the labeled price? [IBPS RRB PO, (06.09.2014)]

(1) 34       (2) 18       (3) Date inadequate   (4) 28      (5) 16

Soln.

[Detailed Explanation: First Method: Let marked price (MP) be 100. Since the article is bought at 20% discount on MP, so cost price (CP) is 100 – 20% of 100 = 80.

The article is sold at a loss of 10%, so the Selling Price (SP) = 80 – 10% of 80 = 80 – 8 = 72

If the article be bought at MP, then CP = 100, so Loss = 100 – 72 = 28. Therefore, Loss = 28% Ans.

Second Method: When any quantity is changed by x% and y% successively, then the quantity is changed by