A shopkeeper marks his goods 30% above cost and gives a discount of 20%. What is his profit percent? MCQ with Answer and Explanation

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A shopkeeper marks his goods 30% above cost and gives a discount of 20%. What is his profit percent?

A. 8%

B. 10%

C. 6%

D. 4%

Answer: Option D

Solution (By JKSSB Mock Tests)

Let CP = 100, MP = 130, SP = 130*0.8 = 104, profit = 4%.

This question belongs to: Maths Profit And Loss

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Question #1

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A person sells an item for Rs. 540, gaining 12.5%. Find the cost price.

A. Rs. 460

B. Rs. 500

C. Rs. 480

D. Rs. 520

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Correct Answer: Option C

Explanation:
CP = 540 / 1.125 = 480.

This question belongs to: Maths Profit And Loss

Question #2

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By selling an umbrella for Rs. 300, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percentage during the sale season is:

A. 7.5%

B. 8%

C. 7%

D. 9%

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Correct Answer: Option B

Explanation:
Marked Price = 300. Original SP = 300. Profit = 20%, so CP = 300 / 1.2 = 250. Discount during sale = 10% on MP. New SP = 300 - 30 = 270. Profit = 270 - 250 = 20. Profit % = (20 / 250) * 100 = 8%.

This question belongs to: Maths Profit And Loss