Laxman marks his goods at 60% above the cost price and allows a discount of 20%. What is his gain/loss percentage?

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Question

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SSC GD Constable (2022) Official Paper (Held On : 30 Jan 2023 Shift 4)

Answer 1

Given

Mark up = 60%

Discount = 20%

Concept:

To find the gain/loss percentage, we can use the formula:

Gain/loss percentage = (Mark up - Discount - (Mark up × Discount/100))%

Solution:

⇒ Gain/loss percentage = (60% - 20% - (60% × 20%/100))%

⇒ Gain/loss percentage = (60% - 20% - 12%)%

⇒ Gain/loss percentage = 28%

Therefore, the gain/loss percentage is 28%. Since it is a positive value, it represents a profit of 28%.