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. Profit 4%

B. Loss 2%

C. No profit no loss

D. Loss 4%

Answer: Option D

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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If the cost price of an item is Rs. 360 and it is sold at a profit of 15%, what is the selling price?

A. Rs. 400

B. Rs. 414

C. Rs. 420

D. Rs. 430

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Correct Answer: Option B

Explanation:
SP = 360*1.15 = 414.

This question belongs to: Maths Profit And Loss

Question #2

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A person buys a pair of shoes for Rs. 400 and sells them for Rs. 480. What is the gain percent?

A. 30%

B. 15%

C. 25%

D. 20%

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Correct Answer: Option D

Explanation:
Gain = 80, gain% = 80/400*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper sells a bag for Rs. 480, losing 20%. Find the cost price.

A. Rs. 600

B. Rs. 580

C. Rs. 620

D. Rs. 560

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Correct Answer: Option A

Explanation:
SP = 80% of CP => CP = 480 / 0.8 = 600.

This question belongs to: Maths Profit And Loss

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