A trader sold a bicycle at a profit of 10%. Had he bought it at 10% less and sold it for Rs. 12 more, he would have gained 25%. Find the cost price. MCQ with Answer and Explanation

Question

A trader sold a bicycle at a profit of 10%. Had he bought it at 10% less and sold it for Rs. 12 more, he would have gained 25%. Find the cost price.

A. Rs. 600

B. Rs. 400

C. Rs. 480

D. Rs. 500

Answer: Option C

Solution (By JKSSB Mock Tests)

Let CP = 100x. Initial SP = 110x. New CP = 90x. New SP = 110x + 12. New profit is 25% on 90x = 22.5x. New SP = 90x + 22.5x = 112.5x. 112.5x - 110x = 12. 2.5x = 12. x = 4.8. CP = 100 * 4.8 = Rs. 480.

This question belongs to: Maths Profit And Loss

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Question #1

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A trader buys an article for Rs. 1200 and marks it 25% above cost. He gives a discount of 10%. Find his profit percent.

A. 14%

B. 15%

C. 12.5%

D. 10%

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Correct Answer: Option C

Explanation:
MP = 1200*1.25 = 1500. SP = 1500*0.9 = 1350. Profit = 150, profit% = (150/1200)*100 = 12.5%.

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Question #2

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By selling a heater for Rs. 600, a merchant gains 25%. Find the cost price.

A. Rs. 520

B. Rs. 450

C. Rs. 480

D. Rs. 500

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Correct Answer: Option C

Explanation:
Selling Price = 600. Profit = 25%. Cost Price = 600 / 1.25 = 480.

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Question #3

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If the cost price of an article is Rs. 400 and the selling price is Rs. 500, what is the profit percentage?

A. 25%

B. 20%

C. 30%

D. 15%

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Correct Answer: Option A

Explanation:
Profit = 100, profit% = 100/400*100=25%.

This question belongs to: Maths Profit And Loss

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