An article is marked 40 % above the cost price and a discount

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An article is marked 40 % above the cost price and a discount of 30 % is allowed. What is the gain or loss % ?

1. 10% gain
2. 5% gain
3. 2% loss
4. 12% loss

Correct Option: C

Let the Cost Price ( C.P. ) of the article be $ 100.
Therefore, marked price = $ 140
Selling Price ( S.P. ) = 70% of 140 = $ 98
Loss = Cost Price - Selling Price = 100 - 98 = $ 2

∴ Loss% =	Loss	x 100%
	Cost Price

loss % =	2	x 100 = 2 %
	100