The market price of an article was 40% more than its cost price. I was going to sell it at market price to a customer, but he showed me some defects in the article, due to which I gave him a discount of 28.57%. Next day he came again and showed me some more defects, hence I gave him another discount that was equal to 12.5% of the cost price. What was the approximate loss to me? Options
A) Loss of 10%  B) Loss of 12.5%  C) Loss of 15%  D) Loss of 25%  E) None of these
Let the cost price be Rs 100   Then, market price is Rs 140   Now, the first discount is of 28.57% (approx.) = 2/7 th of market price.   Hence, its selling price = 140 x 5/7 = Rs 100   Now since you are selling at cost price, any further discount will be equal to loss percentage.   ANSWER:Loss of 12.5%
<result>B</result>
The market price of an article was 40% more than its cost price. I was going to sell it at market price to a customer, but he showed me some defects in the article, due to which I gave him a discount of 28.57%. Next day he came again and showed me some more defects, hence I gave him another discount that was equal to 12.5% of the cost price. What was the approximate loss to me?