A chair is bought for Rs. 500 and sold for Rs. 650. What is the profit percentage? MCQ with Answer and Explanation

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A chair is bought for Rs. 500 and sold for Rs. 650. What is the profit percentage?

A. 25%

B. 30%

C. 15%

D. 20%

Answer: Option B

Solution (By JKSSB Mock Tests)

Cost Price = 500. Selling Price = 650. Profit = 650 - 500 = 150. Profit percentage = (150 / 500) * 100 = 30%.

This question belongs to: Maths Profit And Loss

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Question #1

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A dealer allows a discount of 15% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.

A. Rs. 700

B. Rs. 720

C. Rs. 680

D. Rs. 705.88

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Correct Answer: Option D

Explanation:
SP = 500*1.2 = 600. MP = 600 / 0.85 = 705.88.

This question belongs to: Maths Profit And Loss

Question #2

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A trader buys two horses for Rs. 19500. He sells one at a 20% loss and the other at a 15% profit. If the selling price of both horses is the same, find the cost price of the horse sold at a loss.

A. Rs. 8000

B. Rs. 9500

C. Rs. 11500

D. Rs. 10000

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Correct Answer: Option C

Explanation:
Let Cost Price 1 = C1 and Cost Price 2 = C2. C1 * 0.80 = C2 * 1.15. C1 / C2 = 1.15 / 0.80 = 115 / 80 = 23 / 16. Total parts = 39. C1 = (23 / 39) * 19500 = 11500.

This question belongs to: Maths Profit And Loss