The marked price of an article is ₹600. A shopkeeper purchased it on two successive discounts of 10% and 20%. He spent ₹68 on transportation and sold the article for ₹600. Find his gain or loss percentage.

Correct Answer: 20% Profit

Step-by-Step Explanation:

Step 1: Calculate the cost price after successive discounts

The marked price of the article is ₹600.

The first discount is 10% on the marked price:

$\text{First discount}=600\times \frac{10}{100}=\text{₹}60$

Price after the first discount:

$600-60=\text{₹}540$

The second discount is 20% on the reduced price of ₹540:

$\text{Second discount}=540\times \frac{20}{100}=\text{₹}108$

Purchase price after both discounts:

$540-108=\text{₹}432$

Step 2: Calculate the total cost price

The shopkeeper spent ₹68 on transportation. Therefore, the total cost price (CP) includes the purchase price plus the transportation cost:

$\text{Total CP}=432+68=\text{₹}500$

Step 3: Calculate the profit and profit percentage

The selling price (SP) of the article is ₹600.

Since SP (₹600) is greater than CP (₹500), there is a gain/profit:

$\text{Profit}=\text{SP}-\text{CP}=600-500=\text{₹}100$

Now, calculate the profit percentage:

$\text{Profit Percentage}=\left(\frac{\text{Profit}}{\text{Total CP}}\right)\times 100$

$\text{Profit Percentage}=\left(\frac{100}{500}\right)\times 100=20\%$

Hence, the shopkeeper's gain percentage is 20% Profit.