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A tradesman marks his goods 10% above his cost price. If he allows his customers 10% discount on the marked price, how much profit or loss does he make, if any?
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- 1% gain
- 1% loss
- 5% gain
- No gain, no loss
Correct Option: B
As we know that ,
| Required loss = |  |  | = 1% | |
| 100 |
2nd method to solve this question.
Here, r = 10% and r1 = 10%
| ⇒ Required profit or loss = | −r1 | |
| 100 |
| = | −10 | |
| 100 |
Required profit or loss = 9 – 10
Required profit or loss = –1% (–ve sign shows loss)
Required profit or loss = 1% loss
