A man sold two articles for Rs. 600 each. On one he gains 20% and on the other he loses 20%. What is his overall loss or gain percent? MCQ with Answer and Explanation

Question

A man sold two articles for Rs. 600 each. On one he gains 20% and on the other he loses 20%. What is his overall loss or gain percent?

A. Gain 4%

B. No profit no loss

C. Loss 4%

D. Loss 2%

Answer: Option C

Solution (By JKSSB Mock Tests)

CP1 = 600/1.2 = 500, CP2 = 600/0.8 = 750, total CP = 1250, total SP = 1200, loss = 50, loss% = (50/1250)*100 = 4%.

This question belongs to: Maths Profit And Loss

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Question #1

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If the selling price of an article is Rs. 342 and the profit is 14%, find the cost price.

A. Rs. 310

B. Rs. 290

C. Rs. 300

D. Rs. 320

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Correct Answer: Option C

Explanation:
CP = 342 / 1.14 = 300.

This question belongs to: Maths Profit And Loss

Question #2

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A dishonest dealer professes to sell his goods at cost price, but uses a false weight of 900 grams for a kilogram. What is his profit percentage?

A. 10%

B. 12.5%

C. 9.09%

D. 11.11%

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Correct Answer: Option D

Explanation:
The dealer saves 100 grams on every 900 grams given to the customer. Profit Percentage = (Error / True Value - Error) * 100 = (100 / 900) * 100 = 11.11%.

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Question #3

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If the selling price of an article is Rs. 165 and the profit is 10%, find the cost price.

A. Rs. 160

B. Rs. 140

C. Rs. 155

D. Rs. 150

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Correct Answer: Option D

Explanation:
CP = 165 / 1.10 = 150.

This question belongs to: Maths Profit And Loss

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