Profit & Loss Mcqs

Q.  A fair price shopkeeper takes 10% profit on his goods. He lost 20% goods during theft. His loss percent is:________?

a. 8
b. 10
c. 11
d. 12


ANSWER: See Answer
 
Suppose he has 100 items. Let C.P. of each item be Re. 1.

Total cost = Rs. 100. Number of items left after theft = 80.
S.P. of each item = Rs. 1.10
Total sale = 1.10 * 80 = Rs. 88
Hence, loss % = 12/100 * 100 = 12%
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