The marked price of an article is 25% more than its cost price. If a scheme discount of 40% is given, then the loss percentage is:

Question

Question

This question was previously asked in

SSC CHSL Exam 2024 Tier-I Official Paper (Held On: 04 Jul, 2024 Shift 3)

Answer 1

Given:

The marked price of an article is 25% more than its cost price.

A scheme discount of 40% is given.

Formula used:

Loss Percentage = \(\dfrac{Cost Price - Selling Price}{Cost Price} \times 100\)

Calculations:

Let the cost price (CP) be ₹100.

Marked Price (MP) = CP + 25% of CP

⇒ MP = 100 + 25% of 100

⇒ MP = 100 + 25

⇒ MP = ₹125

Discount = 40% of MP

⇒ Discount = 40% of 125

⇒ Discount = 0.40 × 125

⇒ Discount = ₹50

Selling Price (SP) = MP - Discount

⇒ SP = 125 - 50

⇒ SP = ₹75

Loss = CP - SP

⇒ Loss = 100 - 75

⇒ Loss = ₹25

Loss Percentage = \(\dfrac{25}{100} \times 100\)

⇒ Loss Percentage = 25%

∴ The correct answer is option (4).

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