A shopkeeper marks his goods 20% above cost price, but allows 30% discount for c

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A shopkeeper marks his goods 20% above cost price, but allows 30% discount for cash. His net loss is :

Options:

A . 10%

B . 20%

C . 16%

D . 8%

Answer: Option C
Answer: (c)Let the cost price be xMark Price= $(1 + 20/100)x = 1.2x$Cash price = $(1 - 30/100)1.2x$= 0.7 × 1.2x = 0.84xNet Loss = x - 0.84x = 0.16xNet loss% = ${0.16x}/x × 100$ = 16%Using Rule 8,Here, r = 20%, $r_1$ = 30%Profit or loss= ${r × (100 - r_1)}/100 - r_1$= ${20 × (100 - 30)}/100 - 30$= 14 - 30 = –16% = 16% loss

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