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1. A tradesman marks his goods 10% above his cost price. If he allows his customers 10% discount on the marked price. How much profit or loss does he make, if any ?

A. 1% gain

B. 1% loss

C. 5% gain

D. No gain no loss

Solution:

Let cost price of goods = Rs 100
Market price of goods

\begin{aligned} = 110 % of 100 \\ = \frac{110}{100} \times 100 \\ =  Rs . 110 \end{aligned}

After discount selling price of goods

\begin{aligned} = 90 % of 110 \\ = \frac{90}{100} \times 110 \\ = Rs . 99 \end{aligned}

Loss = 100 - 99 = Rs. 1

\begin{aligned} Loss % = \frac{1}{100} \times 100 \\ = 1 % \end{aligned}

Alternate :

\begin{aligned} Loss % = \frac{x \times y}{100} % \\ Loss % = \frac{10 \times 10}{100} \\ = 1 % \end{aligned}

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