A shopkeeper bought a bag for Rs. 720 and sold it for Rs. 840. What is his profit percentage? MCQ with Answer and Explanation

Question
A shopkeeper bought a bag for Rs. 720 and sold it for Rs. 840. What is his profit percentage?
A. 16.67%
B. 12.5%
C. 15%
D. 20%
Answer: Option A
Solution (By JKSSB Mock Tests)
Profit = 840 - 720 = 120. Profit percentage = (120 / 720) * 100 = 16.67%.
This question belongs to: Maths Profit And Loss
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Question #1
An article is sold at Rs. X. If it is sold at 54.54% of X, there is a loss of 20%. What is the profit percentage when it is sold at Rs. X?
A. 50%
B. 42.5%
C. 46.66%
D. 45%
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Correct Answer: Option C

Explanation:
54.54% = 6/11. Selling at (6/11) * X results in 20% loss, meaning Selling Price = 0.80 * Cost Price. (6/11) * X = 0.80 * Cost Price. X = (0.80 * 11 / 6) * Cost Price = (8.8 / 6) * Cost Price = (88 / 60) * Cost Price = (22 / 15) * Cost Price. Profit = (22 / 15) - 1 = 7 / 15. Profit percentage = (7 / 15) * 100 = 46.66%.
This question belongs to: Maths Profit And Loss
Question #2
A shopkeeper sells an item for Rs. 450, gaining 12.5%. Find the cost price.
A. Rs. 400
B. Rs. 420
C. Rs. 380
D. Rs. 410
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Correct Answer: Option A

Explanation:
CP = 450/1.125 = 400.
This question belongs to: Maths Profit And Loss
Question #3
A tradesman marks his goods 25% above the cost price and allows a 10% discount for cash payment. If he earns a profit of Rs. 50, what is the cost price?
A. Rs. 400
B. Rs. 450
C. Rs. 350
D. Rs. 380
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Correct Answer: Option A

Explanation:
Let Cost Price = 100x. Marked Price = 125x. Selling Price = 125x * 0.90 = 112.5x. Profit = 12.5x. 12.5x = 50. x = 4. Cost Price = 100 * 4 = 400.
This question belongs to: Maths Profit And Loss
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