A bought the article at a discount of 20% on the Marked price and then sold the article with a 10% loss. What would have been the percentage loss had he bought it at the marked price?
Correct Answer :
28%
Solution :
The correct option is 28%.
Let's solve the problem step-by-step by calculating the marked price, cost price, selling price, and the required percentage loss.
Step 1: Assume a Marked Price (MP) for the article.
Let the Marked Price of the article be:
Step 2: Calculate the purchasing price (Cost Price for A).
A bought the article at a discount of 20% on the Marked Price.
Discount amount = 20% of 100 = 20.
Step 3: Calculate the Selling Price (SP) when sold at a 10% loss.
A sold the article at a 10% loss on his purchasing cost (CP).
Loss amount = 10% of 80 = 8.
Step 4: Determine the percentage loss if bought at the Marked Price.
If he had bought the article at the Marked Price (MP = 100) instead of the discounted price, his new Cost Price would be 100 while the Selling Price remains 72.
New Loss = New Cost Price - Selling Price
Now, compute the new percentage loss:
Therefore, the percentage loss had he bought it at the marked price would have been 28%.
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