Question

A vendor marked a product, 20% above the cost price and sold the product for Rs. 7776 by giving two successive discounts of 10% each. Find the cost price of the product and the loss percentage of the vendor.

1. 8000, 2.8%
2. 4000, 2.8%
3. 8200, 1.6%
4. 8400,1.6%
5. None of the above

Answer 1

Correct Answer - Option 1 : 8000, 2.8%

Calculation:

The selling price of the product = Rs. 7776

Overall discount percentage

⇒ 10 + 10 – (10 × 10)/100

⇒ 19%

Marked price of the product = 7776/0.81

⇒ 9600

Cost price of the article = 9600/1.2

⇒ 8000

∴ Required percentage = (8000 – 7776)/8000

⇒ 2.8%

The loss percentage is 2.8%.