A dealer marks his goods at 20% above the cost price and allows a discount of 15%. What is his gain percentage?

Question

Question

This question was previously asked in

SSC CGL 2023 Tier-I Official Paper (Held On: 24 Jul 2023 Shift 1)

Answer 1

Given:

Marked price = 20% above the cost price

discount = 15%

Formula used:

Profit % = (Profit / Cost Price) x 100

Profit = SP - CP

Selling price = [1 - Discount% / 100] x MP

Solution:

Let the CP be 100.

Marked price = 100 + 20% of 100

= 120

Selling price = 120 * (100 - 15)%

= 102

Profit = 102 - 100

= 2

Profit % = (2 / 100) x 100

Hence, the Profit % is 2%.