A shopkeeper marks his goods 20% above cost and gives a discount of 20%. What is his profit or loss percent? MCQ with Answer and Explanation

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A shopkeeper marks his goods 20% above cost and gives a discount of 20%. What is his profit or loss percent?

A. Loss 2%

B. Profit 4%

C. Loss 4%

D. No profit no loss

Answer: Option C

Solution (By JKSSB Mock Tests)

Let CP = 100, MP = 120, SP = 120*0.8 = 96, loss = 4%.

This question belongs to: Maths Profit And Loss

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Question #1

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A shopkeeper marks his goods 30% above cost price and allows a discount of 10%. What is his profit percentage?

A. 17%

B. 20%

C. 18%

D. 15%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 130, SP = 130*0.9 = 117, Profit = 17%.

This question belongs to: Maths Profit And Loss

Question #2

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A sells a bicycle to B at a 20% profit. B sells it to C at a 25% profit. If C pays Rs. 1500, what did A pay for it?

A. Rs. 900

B. Rs. 1100

C. Rs. 1000

D. Rs. 1200

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Correct Answer: Option C

Explanation:
Let A's Cost Price = X. X * 1.20 * 1.25 = 1500. 1.50 * X = 1500. X = 1000.

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Question #3

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If the cost price of 3 articles is equal to the selling price of 2 articles, find the gain percent.

A. 50%

B. 33.33%

C. 40%

D. 25%

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Correct Answer: Option A

Explanation:
Let CP of 1 = 1, CP of 3 = 3, SP of 2 = 3 => SP of 1 = 3/2 = 1.5, gain = 50%.

This question belongs to: Maths Profit And Loss

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