A merchant bought a batch of goods for $500 and sold them for $600. If he had gi

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What’s inside this PDF?

Question: A merchant bought a batch of goods for $500 and sold them for $600. If he had given a discount of 10% on the selling price, what would be his profit?

Options:

Correct Answer: $50

Solution:

Selling Price after discount = 600 - 10% of 600 = 600 - 60 = 540. Profit = 540 - 500 = 40.

A merchant bought a batch of goods for $500 and sold them for $600. If he had gi

Practice Questions

A merchant bought a batch of goods for $500 and sold them for $600. If he had given a discount of 10% on the selling price, what would be his profit?

Questions & Step-by-Step Solutions

A merchant bought a batch of goods for $500 and sold them for $600. If he had given a discount of 10% on the selling price, what would be his profit?

Step 1: Identify the cost price of the goods, which is $500.
Step 2: Identify the original selling price of the goods, which is $600.
Step 3: Calculate the discount amount by finding 10% of the selling price: 10% of $600 = $60.
Step 4: Subtract the discount from the original selling price to find the selling price after discount: $600 - $60 = $540.
Step 5: Calculate the profit by subtracting the cost price from the selling price after discount: $540 - $500 = $40.

Profit Calculation – Understanding how to calculate profit by subtracting the cost price from the selling price after any discounts.
Discount Application – Applying a percentage discount to a selling price correctly to find the final selling price.

A merchant bought a batch of goods for $500 and sold them for $600. If he had gi

What’s inside this PDF?

A merchant bought a batch of goods for $500 and sold them for $600. If he had gi

Practice Questions

Questions & Step-by-Step Solutions

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