Question

Every year during the festive season, a shopkeeper increases the price by 35% and then introduces two successive discounts of 10% and 15% respectively. What is percentage loss and percentage gain?

Answer 1

Hint: In the above type of of question we will assume the cost price (c.p) is Rs. 100 because the calculation will be very easy and thus help you to save time.Also we will use the profit and loss formula which is nothing but the difference of the selling price (s.p) and the cost price of an item.If selling price is greater than the cost price then it is a profit otherwise it is a loss.


Complete step-by-step answer:
Let us assume that we have cost price =100
Now, the shopkeeper increases the price by 35% in selling price= Rs. 135
Also, he gave the discount of 10% in Rs. 135= $\dfrac{135\times 10}{100}=13.5$
So, the 1^st selling price = 135-13.5=121.5

Again 15% discount is given to 1^st selling price =\[\begin{align}
 & \dfrac{121.5\times 15}{100}=18.225 \\
 & \\
\end{align}\]
So, the 2^nd selling price = 121.5 – 18.225= 103.275

Now, finally we have cost price= 100 and selling price = 103.275.
Here, we can see that the selling price is greater than the cost price which simply means there is net profit.
So, the percentage gain by 103.275 – 100=3.20%.
Therefore, the percentage gain is 3.20%.

NOTE: Be careful while calculating because there is a chance that you might make a mistake and get the incorrect answer. This can be solved by taking the cost price as x. By the use of the above condition we will get an equation. On solving this we will get the required answer.
Also, remember the concept of selling price ,cost price , profit and loss.