A person bought a cycle for Rs. 2000 and sold it for Rs. 2400. What is his profit percentage? MCQ with Answer and Explanation

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A person bought a cycle for Rs. 2000 and sold it for Rs. 2400. What is his profit percentage?

A. 15%

B. 25%

C. 20%

D. 30%

Answer: Option C

Solution (By JKSSB Mock Tests)

Profit = 400, profit% = 400/2000*100 = 20%.

This question belongs to: Maths Profit And Loss

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Question #1

A man sells a watch for Rs. 880, gaining 10%. Find the cost price.

A. Rs. 800

B. Rs. 840

C. Rs. 820

D. Rs. 780

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Correct Answer: Option A

Explanation:
CP = 880 / 1.10 = 800.

This question belongs to: Maths Profit And Loss

Question #2

If the selling price of 12 articles is equal to the cost price of 15 articles, find the profit percent.

A. 20%

B. 25%

C. 15%

D. 30%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1. CP of 15 = 15, SP of 12 = 15 => SP of 1 = 15/12 = 1.25, profit = 25%.

This question belongs to: Maths Profit And Loss

Question #3

A trader mixes two varieties of tea costing Rs. 50/kg and Rs. 60/kg in the ratio 2:3. He sells the mixture at Rs. 67.20/kg. Find his profit percentage.

A. 18%

B. 25%

C. 20%

D. 15%

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Correct Answer: Option C

Explanation:
Cost of 5 kg mixture = (2 * 50) + (3 * 60) = 100 + 180 = 280. Cost per kg = 280 / 5 = 56. Selling Price = 67.20. Profit = 11.20. Profit percentage = (11.20 / 56) * 100 = 20%.

This question belongs to: Maths Profit And Loss

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