A trader gives a discount of 10% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price. MCQ with Answer and Explanation

Question

A trader gives a discount of 10% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.

A. Rs. 666.67

B. Rs. 700

C. Rs. 600

D. Rs. 650

Answer: Option A

Solution (By JKSSB Mock Tests)

SP = 500*1.2 = 600. MP = 600 / 0.9 = 666.67.

This question belongs to: Maths Profit And Loss

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A person sells a TV set for Rs. 9400 and makes a certain loss. If he sells it for Rs. 10600, his profit is double the amount of his previous loss. What is the cost price of the TV?

A. Rs. 10000

B. Rs. 10200

C. Rs. 9800

D. Rs. 9600

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Correct Answer: Option C

Explanation:
Let Cost Price = x. Loss = x - 9400. Profit = 10600 - x. Profit = 2 * Loss. 10600 - x = 2 * (x - 9400). 10600 - x = 2x - 18800. 3x = 29400. x = 9800.

This question belongs to: Maths Profit And Loss