Calculating Loss Percentage on Marked Price
We need to determine the overall gain or loss percentage for a business owner based on the cost price (CP), marked price (MP), and discount.
Pricing Calculations
Let's assume the Cost Price (CP) of the item is $100 for simplicity.
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The Marked Price (MP) is 10% higher than the CP:
$MP = CP + (10\% \text{ of } CP)$
$MP = CP \times (1 + \frac{10}{100}) = CP \times 1.10$
If $CP = 100$, then $MP = 100 \times 1.10 = 110$.
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A discount of 10% is given on the Marked Price (MP) to find the Selling Price (SP):
$SP = MP - (10\% \text{ of } MP)$
$SP = MP \times (1 - \frac{10}{100}) = MP \times 0.90$
Substituting the MP value ($110$): $SP = 110 \times 0.90 = 99$.
Determining Gain or Loss
Now, compare the Selling Price (SP) with the Cost Price (CP):
- $CP = 100$
- $SP = 99$
Since $SP < CP$, there is a loss.
Calculating Loss Percentage
Calculate the amount of loss:
$Loss = CP - SP = 100 - 99 = 1$
Calculate the percentage loss relative to the cost price:
$\text{Loss Percentage} = \frac{Loss}{CP} \times 100$
$\text{Loss Percentage} = \frac{1}{100} \times 100 = 1\%$
Therefore, the business owner incurs a 1% loss.
Similar Questions
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Important Questions from Profit and Loss
Ram bought a chair at 35% discount on its market price, Had Ram got no discount, he would have had to pay ₹245 more. How much did Ram pay for the chair?
A shopkeeper bought an item for Rs. 4,500 and sold it at a loss of 5%. From this money, he bought another item and sold it at a profit of 10%. What is his overall profit?
A man sells two articles at Rs. 9,180 each. He gains 8% on one article and loses 15% on the other. His overall profit or loss is:
A shopkeeper selling an article for ₹46 loses 8%. In order to gain 6%, what should be the selling price of the article?
Rahul purchased 80 items from the market. 25% items of the total items were defective and the remaining items were sold at 50% profit. What will be the overall profit percentage?
