A fair-price shopkeeper takes 10% profit on his goods. He lost 20% goods during the theft. What is his loss percent?
A fair-price shopkeeper takes 10% profit on his goods. He lost 20% goods during the theft. What is his loss percent?
Explanation
Let the buyer has 100 items and each costs 1 Rs
The cost price of 100 items=100Rs
Profit percentage =10
So the selling price of one item=1+10/100
=1.1
No of items left after theft =100−20
=80
the selling price of 80 items =80×1.1
=88Rs
Loss % = (100)-(80)/100 (100) =12%