A man purchased an item for Rs. 400 and sold it for Rs. 480. What is his profit percentage? MCQ with Answer and Explanation

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A man purchased an item for Rs. 400 and sold it for Rs. 480. What is his profit percentage?

A. 30%

B. 20%

C. 15%

D. 25%

Answer: Option B

Solution (By JKSSB Mock Tests)

Profit = 80, profit% = 80/400*100=20%.

This question belongs to: Maths Profit And Loss

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Question #1

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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. 10%

C. 5%

D. 8%

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Correct Answer: Option A

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

This question belongs to: Maths Profit And Loss

Question #2

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A person buys a house and a car for Rs. 5,00,000 each. He sells the house at a 20% profit and the car at a 10% loss. What is his overall profit or loss percentage?

A. 2.5% profit

B. 5% loss

C. 5% profit

D. 10% profit

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Correct Answer: Option C

Explanation:
Total Cost Price = 10,00,000. Profit on house = 1,00,000. Loss on car = 50,000. Net profit = 50,000. Profit percentage = (50,000 / 10,00,000) * 100 = 5% profit.

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Question #3

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A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells them at 9 for Rs. 20. What is his profit or loss percentage?

A. 1.23% Loss

B. No profit no loss

C. 1% Loss

D. 1.5% Loss

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Correct Answer: Option A

Explanation:
Let he buy 20 of each (LCM of 5 and 4). CP1 = (10/5)*20 = 40. CP2 = (10/4)*20 = 50. Total CP = 90 for 40 oranges. SP of 40 oranges = (20/9) * 40 = 800/9 = 88.88. Loss = 90 - 88.88 = 1.11. Loss % = (1.11 / 90) * 100 = 1.23%.

This question belongs to: Maths Profit And Loss

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