A trader gives a discount of 20% on the marked price and still gains 20%. If the marked price is Rs. 1500, what is the cost price? MCQ with Answer and Explanation

Explanation:
Overall loss percentage = (15^2) / 100 = 225 / 100 = 2.25%.

Explanation:
SP = 400*1.1 = 440. MP = 440 / 0.85 = 517.65.

Explanation:
When two items are sold at the same price, one at x% profit and the other at x% loss, the overall transaction results in a loss of (x^2)/100 %. Loss % = (10*10)/100 = 1%.