a trader marks his goods 20% above the CP .He then sells them at a discount of 20% .If his CP is 550 what is his gain or loss and its percentage
he lost 4% and lost 22 dollars
1. 1.2 x
2. 0.8 * 1.2 x = 0.96
3. 0.96*550 = 528
4. 550-528 = 22
Loss rs.22 , 4%
Rrvvvhvvh
This is not 7:42 am its 5:15 p.m man
To find the trader's gain or loss and its percentage, let's break down the process step by step:
1. The trader marks his goods 20% above the Cost Price (CP):
- Let's calculate the Marked Price (MP), which is the CP plus the 20% increase: MP = CP + (20/100) * CP.
- In this case, CP = $550, so MP = $550 + (20/100) * $550 = $550 + $110 = $660.
2. The trader sells the goods at a discount of 20%:
- To calculate the Selling Price (SP), we'll subtract 20% from the Marked Price: SP = MP - (20/100) * MP.
- In this case, MP = $660, so SP = $660 - (20/100) * $660 = $660 - $132 = $528.
Now, let's determine the gain or loss and its percentage:
- Gain or Loss: The gain or loss is calculated by subtracting the CP from the SP: Gain/Loss = SP - CP.
- In this case, CP = $550 and SP = $528, so Gain/Loss = $528 - $550 = -$22 (loss).
- Percentage Gain or Loss: The percentage gain or loss is calculated using the formula: (Gain/Loss / CP) * 100.
- In this case, Gain/Loss = -$22 and CP = $550, so percentage Gain/Loss = (-$22 / $550) * 100 = -4%.
Therefore, the trader incurred a loss of $22, which is equivalent to a percentage loss of 4%.