A dealer marks his goods 70% above cost and gives a discount of 40%. What is his profit percent? MCQ with Answer and Explanation

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A dealer marks his goods 70% above cost and gives a discount of 40%. What is his profit percent?

A. 2%

B. 8%

C. 5%

D. 10%

Answer: Option A

Solution (By JKSSB Mock Tests)

Let CP = 100, MP = 170, SP = 170*0.6 = 102, profit = 2%.

This question belongs to: Maths Profit And Loss

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Question #1

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A trader allows a discount of 12% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.

A. Rs. 670

B. Rs. 660

C. Rs. 681.82

D. Rs. 700

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Correct Answer: Option C

Explanation:
SP = 500*1.2 = 600. MP = 600 / 0.88 = 681.82.

This question belongs to: Maths Profit And Loss

Question #2

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By selling 12 items for Rs. 60, a man loses 25%. How many items must he sell for Rs. 100 to gain 25%?

A. 12

B. 15

C. 10

D. 16

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Correct Answer: Option A

Explanation:
Selling Price of 12 items = 60. Selling Price of 1 item = 5. Cost Price of 1 item = 5 / 0.75 = 20 / 3. Desired Selling Price for 25% profit = (20 / 3) * 1.25 = 25 / 3. Number of items for Rs. 100 = 100 / (25 / 3) = 12 items.

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Question #3

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If the selling price is Rs. 550 and the profit is 10%, find the cost price.

A. Rs. 495

B. Rs. 505

C. Rs. 510

D. Rs. 500

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Correct Answer: Option D

Explanation:
SP = 1.1 CP => CP = 550 / 1.1 = 500.

This question belongs to: Maths Profit And Loss

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