A man bought a chair for Rs. 600 and sold it for Rs. 720. What is the gain percent? MCQ with Answer and Explanation

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A man bought a chair for Rs. 600 and sold it for Rs. 720. What is the gain percent?

A. 15%

B. 25%

C. 20%

D. 30%

Answer: Option C

Solution (By JKSSB Mock Tests)

Gain = 120, gain% = 120/600*100=20%.

This question belongs to: Maths Profit And Loss

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Question #1

A shopkeeper sells a shirt for Rs. 350, gaining 40%. Find the cost price.

A. Rs. 250

B. Rs. 240

C. Rs. 260

D. Rs. 270

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Correct Answer: Option A

Explanation:
CP = 350 / 1.40 = 250.

This question belongs to: Maths Profit And Loss

Question #2

A shopkeeper allows a 20% discount on the marked price and still makes a 20% profit. What is the ratio of the marked price to the cost price?

A. 2:1

B. 3:2

C. 5:4

D. 4:3

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Correct Answer: Option B

Explanation:
Marked Price * 0.80 = Cost Price * 1.20. Marked Price / Cost Price = 1.20 / 0.80 = 1.5 = 3/2. Ratio is 3:2.

This question belongs to: Maths Profit And Loss

Question #3

A trader marks his goods 40% above cost and gives a discount of 20%. What is his profit percent?

A. 15%

B. 10%

C. 12%

D. 8%

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Correct Answer: Option C

Explanation:
Let CP = 100, MP = 140, SP = 140*0.8 = 112, profit = 12%.

This question belongs to: Maths Profit And Loss

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