A person buys a shirt for Rs. 350 and sells it for Rs. 420. What is the profit percentage? MCQ with Answer and Explanation

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A person buys a shirt for Rs. 350 and sells it for Rs. 420. What is the profit percentage?

A. 25%

B. 18%

C. 15%

D. 20%

Answer: Option D

Solution (By JKSSB Mock Tests)

Profit = 70, profit% = 70/350*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 40% above cost and gives a discount of 20%. What is his profit percent?

A. 10%

B. 20%

C. 15%

D. 12%

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Correct Answer: Option D

This question belongs to: Maths Profit And Loss

Question #2

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A dealer allows a discount of 40% on the marked price and still gains 20%. If the cost price is Rs. 600, find the marked price.

A. Rs. 1300

B. Rs. 1100

C. Rs. 1200

D. Rs. 1000

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Correct Answer: Option C

Explanation:
SP = 600*1.2 = 720. MP = 720 / 0.6 = 1200.

This question belongs to: Maths Profit And Loss

Question #3

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If an article is sold at a 200% profit, the ratio of its cost price to its selling price will be:

A. 2:3

B. 1:3

C. 3:1

D. 1:2

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Correct Answer: Option B

Explanation:
Let Cost Price = 100. Profit = 200. Selling Price = 300. Ratio of Cost Price to Selling Price = 100 : 300 = 1 : 3.

This question belongs to: Maths Profit And Loss

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