Discussion
The Marked Price of an article is 10% higher than the Cost Price. A discount of 10% is given on the Marked Price. In this kind of sale, the seller bears?
Answer: D
The seller bears a loss of 1%.
Take the cost price as 100. The marked price is 10% higher, and the selling price is 10% less than that:
\[ \begin{aligned} MP &= 100 \times 1.1 = 110 \\ SP &= 110 \times 0.9 = 99 \end{aligned} \]
Selling at 99 what cost 100 is a loss of 1%. 'No profit, no loss' is the trap: a 10% rise followed by a 10% cut does not return to the start, because the cut is taken on the larger figure. In general, \(x\%\) up then \(x\%\) down always gives a loss of \(x^{2}/100\) per cent.
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