Let the cost price of the goods be Rs 100. Then, the marked price of the goods Rs100+Rs40=Rs140 Discount on the marked price=140×
40
100
=Rs56 Then,Selling Price = Marked Price – Discount =140−56 Rs84 Since CP=Rs100 and SP=Rs84 Then, there is a loss because CP > SP. Now,Loss%=CP−SP =100−84 =16% Hence, there is a loss of 16%.