A shopkeeper made a profit of 16\% on his goods. If the price at which he buys decreases by 20\% while he reduces his selling price by 23\% , what is - Quantitative Aptitude MCQ SSC CGL 2026 | ExamTest.live

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A shopkeeper made a profit of 16% on his goods. If the price at which he buys decreases by 20% while he reduces his selling price by 23%, what is now his percentage of profit? (correct to one decimal place)

Solution & Step-by-step Explanation

Let the original Cost Price (CP) = 100 .Since profit is 16%, the original Selling Price (SP) = 116 .New CP (decreased by 20%): New CP = 100 \times 0.80 = 80 New SP (reduced by 23%): New SP = 116 \times (1 - 0.23) = 116 \times 0.77 = 89.32 New Profit: Profit = New SP - New CP = 89.32 - 80 = 9.32 New Profit Percentage: Profit % = \frac{9.32}{80} \times 100 = \frac{93.2}{8} = 11.65% \approx 11.6%

Try it yourself before checking the explanation above.

A shopkeeper made a profit of 16% on his goods. If the price at which he buys decreases by 20% while he reduces his selling price by 23%, what is now his percentage of profit? (correct to one decimal place)

11.6

15.4

12.9

14.6

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