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The marked price of an article is 40 percent more than its cost price. The shopkeeper gives a discount of 28.57 percent on marked price. On request, he gives another discount that was equal to 12.5 percent of the cost price. What was the approximate loss percent of shopkeeper? 

The marked price of an article is 40 percent more than its cost price. The shopkeeper gives a discount of 28.57 percent on marked price. On request, he gives another discount that was equal to 12.5 percent of the cost price. What was the approximate loss percent of shopkeeper?  Correct Answer 12.5 percent

Given:

Marked price = 140% of CP

Two discount = 28.57% and 12.5%

Formula used:

Loss = CP - SP, where, CP > SP

Loss% = (Loss/CP) × 100

Calculation:

Let the CP be x

According to the question,

Marked price = x × 140%

Marked price = 140x/100

After discount of 28.57%

28.57% = 2/7

(140x/100) × (5/7) = x

After another discount of 12.5%

12.5% = 1/8

⇒ (x) × (7/8) = 7x/8

⇒ Loss = x - (7x/8)

Loss = x/8

Loss% = (Loss/CP) × 100

⇒ Loss% = {x/(8 × x)} × 100

⇒ Loss% = 100/8 = 12.5

∴ The loss percent is 12.5%.

 × 100

⇒ Loss% = 100/8 = 12.5

∴ The loss percent is 12.5%.

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