A person buys a shirt for Rs. 500 and sells it for Rs. 400. What is the loss percentage? MCQ with Answer and Explanation

A person buys a shirt for Rs. 500 and sells it for Rs. 400. What is the loss percentage?
A. 20%
B. 30%
C. 15%
D. 25%
Answer: Option A
Solution (By JKSSB Mock Tests)
Loss = 100, loss% = 100/500*100 = 20%.

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Practice More Profit And Loss Questions

Question #1
A shopkeeper professes to sell at cost price but uses a 950g weight for 1kg. Find his profit percentage.
A. 6%
B. 5%
C. 5.5%
D. 5.26%

Correct Answer: Option D


Explanation:
Error = 50g. Profit % = (50 / 950) * 100 = 100 / 19 = 5.26%.

This question belongs to: Maths Profit And Loss
Question #2
A dishonest milkman professes to sell his milk at cost price but he mixes it with water and thereby gains 25%. What is the percentage of water in the mixture?
A. 25%
B. 33.33%
C. 16.67%
D. 20%

Correct Answer: Option D


Explanation:
Let the CP of 1 liter of pure milk be Rs. 1. SP of 1 liter of mixture is Rs. 1. Gain is 25%. Thus, CP of 1 liter of mixture = 100/125 * 1 = Rs. 0.8. Using alligation, ratio of milk to water is (1 - 0.8) : (0.8 - 0) = 0.8 : 0.2 = 4:1. Percentage of water in the mixture = (1 / (4 + 1)) * 100 = 20%.

This question belongs to: Maths Profit And Loss
Question #3
If the cost price of an article is Rs. 120 and the selling price is Rs. 150, what is the profit percentage?
A. 30%
B. 25%
C. 15%
D. 20%

Correct Answer: Option B


Explanation:
Profit = 30, profit% = 30/120*100=25%.

This question belongs to: Maths Profit And Loss