An article costs ₹1,000 for a salesman. He fixes its marked price as ₹1,500. He sells it to a customer at a discount of 20%. He gives a further discount of 10% for each cash payment. Find the percentage of loss or gain that the salesman makes on sale.

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Step 1: Cost price (CP) = ₹1000
Step 2: Marked price (MP) = ₹1500
Step 3: First discount = 20% of ₹1500 = 0.20 × 1500 = ₹300
Selling price after first discount = 1500 - 300 = ₹1200
Step 4: Further discount for cash payment = 10% of ₹1200 = 0.10 × 1200 = ₹120
Final selling price (SP) = 1200 - 120 = ₹1080
Step 5: Calculate gain or loss = SP - CP = 1080 - 1000 = ₹80 (gain)
Step 6: Percentage gain = (Gain / CP) × 100 = (80 / 1000) × 100 = 8%
Therefore, the salesman makes a gain of 8% on the sale.

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