A dealer marks his goods 10% above the cost price and allows 10% discount. What is his percentage gain or loss?
Given:
Marked Price = 10% above Cost Price
Discount Allowed = 10%
Formula Used:
Selling Price =
Profit % =
Solution:
Let Cost Price = ₹100
Then, Marked Price = ₹100 + 10% of ₹100 = ₹110
Selling Price = ₹110
Loss = ₹100 - ₹99 = ₹1
Loss % =
Alternate Method:
Loss % = = 1%
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