A man sold two articles for Rs. 1000 each. On one he gains 20% and on the other he loses 20%. What is his overall gain or loss percent? MCQ with Answer and Explanation

Question

A man sold two articles for Rs. 1000 each. On one he gains 20% and on the other he loses 20%. What is his overall gain or loss percent?

A. Loss 2%

B. No profit no loss

C. Gain 4%

D. Loss 4%

Answer: Option D

Solution (By JKSSB Mock Tests)

CP of first = 1000/1.2 = 833.33; CP of second = 1000/0.8 = 1250; total CP = 2083.33; total SP = 2000; loss = 83.33; loss% = (83.33/2083.33)*100 = 4%.

This question belongs to: Maths Profit And Loss

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Profit And Loss Questions

Question #1

Share Report

A dealer marks his goods 50% above cost and gives a discount of 20%. What is his profit percent?

A. 25%

B. 20%

C. 30%

D. 15%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Let CP = 100, MP = 150, SP = 150*0.8 = 120, profit = 20%.

This question belongs to: Maths Profit And Loss

Question #2

Share Report

A watch dealer pays a 10% custom duty on a watch costing Rs. 500 abroad. He wants to make a 20% profit after allowing a 25% discount. What should be the marked price?

A. Rs. 880

B. Rs. 920

C. Rs. 840

D. Rs. 800

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Total Cost Price = 500 + 10% of 500 = 550. Target Selling Price = 550 * 1.20 = 660. Marked Price = 660 / 0.75 = 880.

This question belongs to: Maths Profit And Loss

Question #3

Share Report

If an item is sold for Rs. 450 at a 10% loss, what was its cost price?

A. Rs. 480

B. Rs. 490

C. Rs. 520

D. Rs. 500

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Selling Price is 90% of Cost Price. 0.90 * CP = 450. CP = 450 / 0.90 = Rs. 500.

This question belongs to: Maths Profit And Loss

Explore All Profit And Loss MCQs