The marked price (MP) of an article is 10% more than its cost price (CP). If a…

Concept: If the marked price (MP) is set a% above the cost price (CP), and a discount of b% is then given on MP, the net effect on CP follows the successive-percentage-change identity: Net% = a − b − (a × b)/100. A positive result is a net profit; a negative result is a net loss.

Application: here a = 10 (markup on CP) and b = 10 (discount on MP).

1. Assume CP = 100 (a convenient base value).

2. Marked price (MP) = CP + 10% of CP = 100 + 10 = 110.

3. Discount amount = 10% of MP = 10% of 110 = 11.

4. Selling price (SP) = MP − Discount = 110 − 11 = 99.

5. Change in value = SP − CP = 99 − 100 = −1, i.e. a loss of 1 on a CP of 100.

6. Loss percentage = (Loss / CP) × 100 = (1/100) × 100 = 1%.

Cross-check: applying the successive-percentage-change formula directly, Net% = 10 − 10 − (10 × 10)/100 = 0 − 1 = −1%, i.e. a 1% loss — matching the step-by-step calculation.

Therefore, the article is sold at a 1% loss.