A) 8%
B) 10%
C) 16%
D) 20%
Correct Answer: C
Solution :
Let the cost price be Rs. x. |
Mark price \[=\left( 1+\frac{20}{100} \right)x=12x\] |
Cash price \[=\left( 1-\frac{30}{1000} \right)1.2x=0.7\times 1.2x=0.84x\] |
Net loss \[=x-0.84x=0.16x\] |
\[\therefore \] Net loss\[=\frac{0.16x}{x}\times 100=16%\] |
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