A trader marks his goods 30% above cost and gives a discount of 10%. What is his profit percent? MCQ with Answer and Explanation

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A trader marks his goods 30% above cost and gives a discount of 10%. What is his profit percent?

A. 18%

B. 17%

C. 15%

D. 20%

Answer: Option B

Solution (By JKSSB Mock Tests)

Let CP = 100, MP = 130, SP = 130*0.9 = 117, profit = 17%.

This question belongs to: Maths Profit And Loss

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An article is sold at a 15% profit. If its cost price decreases by 10% and selling price decreases by Rs. 21, the profit becomes 20%. Find the initial cost price.

A. Rs. 320

B. Rs. 300

C. Rs. 280

D. Rs. 250

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Correct Answer: Option B

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 90x. New Selling Price = 90x * 1.20 = 108x. Difference = 115x - 108x = 7x. 7x = 21. x = 3. Initial Cost Price = 100 * 3 = 300.

This question belongs to: Maths Profit And Loss