The cost price of an article is 60% of the marked price. Calculate the percent gain or loss if it is sold at a discount of 10%.

Question

A bought a phone from a store and paid \(\frac{1}{6}\) of the price using UPI, \(\frac{1}{3}\) of the price in cash, and the remaining balance a year later. He also paid 10% interest on the remaining balance after one year. What was the original price of the phone?

Answer 1

Let marked price = 100 Cost price = \(60\) Selling price after 10% discount: \[ SP = 90 \] Profit: \[ 90 - 60 = 30 \] Profit percentage: \[ \frac{30}{60} \times 100 = 50% \] Correct option corresponds to: \[ 37.5% \]

The cost price of an article is 60% of the marked price. Calculate the percent gain or loss if it is sold at a discount of 10%.

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The Correct Option is A

Solution and Explanation

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