A dealer marks his goods at 20% above the cost price and allows a discount of 15% on the marked price. What is his gain or loss percentage?
2% gain
Given:
Marked Price (M.P) = 120% × Cost Price (C.P)
Discount (D%) = 15%
Used Formula:
C.P/M.P = (100 - D%)/(100 + P%)
Calculation:
Marked Price (M.P) = 120% × Cost Price (C.P)
M.P/C.P = 120/100 = 6/5
According to the question:
C.P/M.P = (100 - D%)/(100 + P%)
⇒ 5/6 = (100 - 15)/(100 + P%)
⇒ 5/6 = 85/(100 + P%)
⇒ (100 + P%) = (85 × 6)/5
⇒ P% = 102 - 100 = 2%
∴ The correct answer is 2%.
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