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A trader fixes the selling price of an article 20% abovecost price, but he sold that article at a loss of 10% on the fixed price. Find thepercentage of profit/loss.4% loss10% loss8% profit10% profit

Question

A trader fixes the selling price of an article 20% abovecost price, but he sold that article at a loss of 10% on the fixed price. Find thepercentage of profit/loss.4% loss10% loss8% profit10% profit

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Solution

Let's break this down:

  1. The trader fixes the selling price of an article 20% above the cost price. This means if the cost price is 100%, the selling price is 120%.

  2. However, the trader sells the article at a loss of 10% on the fixed price. This means he sells it for 90% of the fixed price.

  3. To find out what percentage of the cost price this is, we calculate 90% of 120%, which is 108%.

  4. Therefore, the trader sells the article for 108% of the cost price.

  5. Since the cost price is 100%, this means the trader makes a profit of 8%.

So, the answer is 8% profit.

This problem has been solved

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Select the correct answerA person sold two articles for 1200 each; he made a profit of 20% and a loss of 20% on the other. What will be the overall profit or loss in percentage?OptionsLoss 4%Profit 4%Cannot be determinedNo Profit No loss

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