A dealer sells an article at a loss of 4%. Had he sold it for Rs. 120 more, he would have gained 8%. What is the cost price of the article? MCQ with Answer and Explanation
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Question #1
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A table is sold for Rs. 1440 yielding a profit of 20%. Find the cost price of the table.
Correct Answer: Option C
Explanation:
Selling Price = 1440. Profit = 20%. Cost Price = 1440 / 1.20 = 1200.
Selling Price = 1440. Profit = 20%. Cost Price = 1440 / 1.20 = 1200.
This question belongs to:
Maths
Profit And Loss
Question #2
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A dishonest dealer professes to sell his goods at cost price, but he uses a weight of 800 grams for 1 kg. What is his actual profit percentage?
Correct Answer: Option C
Explanation:
He gives 800 grams but charges for 1000 grams. Profit = 1000 - 800 = 200 grams. Profit percentage = (200 / 800) * 100 = 25%.
He gives 800 grams but charges for 1000 grams. Profit = 1000 - 800 = 200 grams. Profit percentage = (200 / 800) * 100 = 25%.
This question belongs to:
Maths
Profit And Loss
Question #3
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A man buys goods worth Rs. 6000. He sells one-third of them at a 10% profit. At what profit percentage must he sell the remaining goods to achieve an overall profit of 20%?
Correct Answer: Option A
Explanation:
Total Cost Price = 6000. Desired Selling Price for 20% profit = 6000 * 1.20 = 7200. Cost Price of one-third = 2000. Selling Price of this part = 2000 * 1.10 = 2200. Remaining Cost Price = 4000. Required Selling Price for remaining = 7200 - 2200 = 5000. Profit on remaining = 5000 - 4000 = 1000. Profit percentage = (1000 / 4000) * 100 = 25%.
Total Cost Price = 6000. Desired Selling Price for 20% profit = 6000 * 1.20 = 7200. Cost Price of one-third = 2000. Selling Price of this part = 2000 * 1.10 = 2200. Remaining Cost Price = 4000. Required Selling Price for remaining = 7200 - 2200 = 5000. Profit on remaining = 5000 - 4000 = 1000. Profit percentage = (1000 / 4000) * 100 = 25%.
This question belongs to:
Maths
Profit And Loss
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