A shopkeeper bought an article for Rs. 500 and sold it for Rs. 600. What is his profit percentage? MCQ with Answer and Explanation

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A shopkeeper bought an article for Rs. 500 and sold it for Rs. 600. What is his profit percentage?

A. 10%

B. 20%

C. 15%

D. 25%

Answer: Option B

Solution (By JKSSB Mock Tests)

Profit = Selling Price (SP) - Cost Price (CP) = 600 - 500 = 100. Profit Percentage = (Profit / CP) * 100 = (100 / 500) * 100 = 20%.

This question belongs to: Maths Profit And Loss

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Question #1

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A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells them at 9 for Rs. 20. What is his profit or loss percentage?

A. No profit no loss

B. 1.5% Loss

C. 1% Loss

D. 1.23% Loss

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Correct Answer: Option D

Explanation:
Let he buy 20 of each (LCM of 5 and 4). CP1 = (10/5)*20 = 40. CP2 = (10/4)*20 = 50. Total CP = 90 for 40 oranges. SP of 40 oranges = (20/9) * 40 = 800/9 = 88.88. Loss = 90 - 88.88 = 1.11. Loss % = (1.11 / 90) * 100 = 1.23%.

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Question #2

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A person buys 10 kg of rice for Rs. 300 and sells at Rs. 36 per kg. What is the profit percentage?

A. 25%

B. 15%

C. 20%

D. 30%

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Correct Answer: Option C

Explanation:
CP per kg = 300/10 = 30, SP = 36, profit = 6, profit% = 6/30*100 = 20%.

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Question #3

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An article is sold for Rs. 144. If the percentage of profit is numerically equal to the cost price, find the cost price.

A. Rs. 80

B. Rs. 60

C. Rs. 90

D. Rs. 72

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Correct Answer: Option A

Explanation:
Let Cost Price = x. Profit percentage = x%. Selling Price = x * (1 + x/100) = 144. x^2 + 100x - 14400 = 0. Solving gives x = 80. Cost Price = Rs. 80.

This question belongs to: Maths Profit And Loss

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