A man bought 2 articles for Rs. 1200 each. He sold one at a 20% loss and the other at a 20% profit. What is his overall profit or loss percentage? MCQ with Answer and Explanation
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Question #1
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If the selling price of an article is Rs. 216 and the profit is 8%, find the cost price.
Correct Answer: Option D
Explanation:
CP = 216 / 1.08 = 200.
CP = 216 / 1.08 = 200.
This question belongs to:
Maths
Profit And Loss
Question #2
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If the profit is one-fourth of the selling price, find the true profit percentage on the cost price.
Correct Answer: Option B
Explanation:
Let Selling Price = 100. Profit = 25. Cost Price = 100 - 25 = 75. Profit percentage = (25 / 75) * 100 = 33.33%.
Let Selling Price = 100. Profit = 25. Cost Price = 100 - 25 = 75. Profit percentage = (25 / 75) * 100 = 33.33%.
This question belongs to:
Maths
Profit And Loss
Question #3
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An article is sold at Rs. X. If it is sold at 54.54% of X, there is a loss of 20%. What is the profit percentage when it is sold at Rs. X?
Correct Answer: Option B
Explanation:
54.54% = 6/11. Selling at (6/11) * X results in 20% loss, meaning Selling Price = 0.80 * Cost Price. (6/11) * X = 0.80 * Cost Price. X = (0.80 * 11 / 6) * Cost Price = (8.8 / 6) * Cost Price = (88 / 60) * Cost Price = (22 / 15) * Cost Price. Profit = (22 / 15) - 1 = 7 / 15. Profit percentage = (7 / 15) * 100 = 46.66%.
54.54% = 6/11. Selling at (6/11) * X results in 20% loss, meaning Selling Price = 0.80 * Cost Price. (6/11) * X = 0.80 * Cost Price. X = (0.80 * 11 / 6) * Cost Price = (8.8 / 6) * Cost Price = (88 / 60) * Cost Price = (22 / 15) * Cost Price. Profit = (22 / 15) - 1 = 7 / 15. Profit percentage = (7 / 15) * 100 = 46.66%.
This question belongs to:
Maths
Profit And Loss
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