A man buys a chair for Rs. 400 and sells it for Rs. 460. What is the gain percent? MCQ with Answer and Explanation

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A man buys a chair for Rs. 400 and sells it for Rs. 460. What is the gain percent?

A. 10%

B. 12%

C. 20%

D. 15%

Answer: Option D

Solution (By JKExamLibrary)

Gain = 60, gain% = 60/400*100 = 15%.

This question belongs to: Maths Profit And Loss

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Practice More Profit And Loss Questions

Question #1 Report Error

A merchant mixes 40 kg of rice at Rs. 20/kg with 60 kg of rice at Rs. 30/kg. He sells the mixture at Rs. 31.20/kg. What is his profit percentage?

A. 15%

B. 18%

C. 20%

D. 22%

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Correct Answer: Option C

Explanation:
Total Cost = (40 * 20) + (60 * 30) = 800 + 1800 = 2600. Total Selling Price = 100 * 31.20 = 3120. Profit = 3120 - 2600 = 520. Profit percentage = (520 / 2600) * 100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2 Report Error

A shopkeeper sells a transistor at 15% above its cost price. If he had bought it at 5% more than what he paid for it and sold it for Rs. 6 more, he would have gained 10%. Find the cost price of the transistor.

A. Rs. 600

B. Rs. 800

C. Rs. 1000

D. Rs. 1200

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Correct Answer: Option D

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 105x. New Selling Price = 105x * 1.10 = 115.5x. Difference in Selling Price = 115.5x - 115x = 0.5x. 0.5x = 6. x = 12. Cost Price = 100 * 12 = 1200.

This question belongs to: Maths Profit And Loss