A trader lists his article 20 % above their cost prices and allows a discount of 10 % at the time of sale . His gain percent is
Correct Answer: 8 %
Explanation:
Let the CP = N
∴ Marked price of item = (N x 120)/100 = 6N/5
Then, SP of item = (6N/5) x (100 -10)/100 = 27N/25
Profit = (27N/25) - N = 2N/25
Profit % = [(2N/25) / N] x 100% = 8 %
