A person buys a pair of shoes for Rs. 400 and sells them for Rs. 480. What is the gain percent? MCQ with Answer and Explanation

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A person buys a pair of shoes for Rs. 400 and sells them for Rs. 480. What is the gain percent?

A. 30%

B. 15%

C. 20%

D. 25%

Answer: Option C

Solution (By JKSSB Mock Tests)

Gain = 80, gain% = 80/400*100 = 20%.

This question belongs to: Maths Profit And Loss

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Practice More Profit And Loss Questions

Question #1

A man sells a watch for Rs. 720, gaining 20%. What is the cost price?

A. Rs. 640

B. Rs. 560

C. Rs. 680

D. Rs. 600

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Correct Answer: Option D

Explanation:
CP = 720 / 1.20 = 600.

This question belongs to: Maths Profit And Loss

Question #2

A man bought a shirt for Rs. 450 and sold it for Rs. 540. What is the gain percentage?

A. 20%

B. 15%

C. 25%

D. 30%

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Correct Answer: Option A

Explanation:
Gain = 90, gain% = 90/450*100=20%.

This question belongs to: Maths Profit And Loss

Question #3

The profit earned by selling an article for Rs. 1630 is the same as the loss incurred by selling it for Rs. 1320. At what price should it be sold to earn a 20% profit?

A. Rs. 1850

B. Rs. 1770

C. Rs. 1800

D. Rs. 1750

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Correct Answer: Option B

Explanation:
Cost Price = (1630 + 1320) / 2 = 2950 / 2 = 1475. Desired Selling Price = 1475 * 1.20 = 1770.

This question belongs to: Maths Profit And Loss

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