Question
A shopkeeper marks his goods 20% above his cost price and gives 15% discount on the marked price. His gain percent is = ?
Answer: Option C
Let the cost price = Rs. 100
$$\eqalign{
& {\text{Market price }} \cr
& {\text{ = 120}}\% {\text{ of 100 }} \cr
& {\text{ = Rs}}{\text{. 120}} \cr
& {\text{Selling price }} \cr
& {\text{ = 85}}\% {\text{ of 120 }} \cr
& {\text{ = }}\frac{{85}}{{100}} \times {\text{120 }} \cr
& {\text{ = Rs}}{\text{. 102}} \cr
& {\text{Gain }}\% = \frac{{102 - 100}}{{100}} \times 100 \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 2\% \cr} $$
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Let the cost price = Rs. 100
$$\eqalign{
& {\text{Market price }} \cr
& {\text{ = 120}}\% {\text{ of 100 }} \cr
& {\text{ = Rs}}{\text{. 120}} \cr
& {\text{Selling price }} \cr
& {\text{ = 85}}\% {\text{ of 120 }} \cr
& {\text{ = }}\frac{{85}}{{100}} \times {\text{120 }} \cr
& {\text{ = Rs}}{\text{. 102}} \cr
& {\text{Gain }}\% = \frac{{102 - 100}}{{100}} \times 100 \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 2\% \cr} $$
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