A cellphone was marked at 40% above the cost price and a discount of 30% was given on its marked price. Find the gain or loss percent made by the shopkeeper.

Answer

To solve the problem step by step, let's define the variables and calculate the required values.

### Step 1: Define the Cost Price (CP)
Let the cost price (CP) of the cellphone be Rs. 100 (you can choose any value, but Rs. 100 makes calculations easier).

### Step 2: Calculate the Marked Price (MP)
The marked price is 40% above the cost price.
\[ \text{Marked Price (MP)} = \text{CP} + 40\% \text{ of CP} \]
\[ \text{MP} = 100 + (40/100) \times 100 \]
\[ \text{MP} = 100 + 40 = Rs. 140 \]

### Step 3: Calculate the Selling Price (SP)
A discount of 30% is given on the marked price.
\[ \text{Discount} = 30\% \text{ of MP} \]
\[ \text{Discount} = (30/100) \times 140 = Rs. 42 \]
Now, calculate the selling price:
\[ \text{Selling Price (SP)} = \text{MP} - \text{Discount} \]
\[ \text{SP} = 140 - 42 = Rs. 98 \]

### Step 4: Calculate Gain or Loss
Now, we need to find out if there is a gain or loss.
\[ \text{Gain or Loss} = \text{SP} - \text{CP} \]
\[ \text{Gain or Loss} = 98 - 100 = -2 \]
Since the result is negative, it indicates a loss of Rs. 2.

### Step 5: Calculate Loss Percentage
To find the loss percentage, use the formula:
\[ \text{Loss Percentage} = \left( \frac{\text{Loss}}{\text{CP}} \right) \times 100 \]
\[ \text{Loss Percentage} = \left( \frac{2}{100} \right) \times 100 = 2\% \]

### Final Answer
The shopkeeper made a loss of 2%.

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