Question 133

Arvind purchased a wrist watch with 30% discount on the labelled price. He sold it with 40% profit on I he price he bought. What was his percent loss on the labelled price?

Solution

Let marked price = $$100x$$

Discount amount = $$\frac{30}{100} * 100x = 30x$$

=> Cost price for Arvind = $$100x-30x = 70x$$

Profit gained by Arvind = $$\frac{40}{100} * 70x = 28x$$

=> Selling price for Arvind = $$70x+28x = 98x$$

Now, % loss on labelled/marked price = $$\frac{100x-98x}{100x}$$ * 100 = 2%

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