An item is sold for Rs. 240 at a 20% loss. At what price should it be sold to gain 20%? MCQ with Answer and Explanation

Question

Share Report Error

An item is sold for Rs. 240 at a 20% loss. At what price should it be sold to gain 20%?

A. Rs. 340

B. Rs. 360

C. Rs. 320

D. Rs. 300

Answer: Option B

Solution (By JKSSB Mock Tests)

Cost Price = 240 / 0.80 = 300. New Selling Price for 20% profit = 300 * 1.20 = 360.

This question belongs to: Maths Profit And Loss

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Profit And Loss Questions

Question #1

Share Report

A man buys an article for Rs. 200 and sells it for Rs. 240. What is the gain percent?

A. 15%

B. 20%

C. 18%

D. 25%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Gain = 40, gain% = (40/200)*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2

Share Report

A person buys a pencil for Rs. 10 and sells it for Rs. 12. What is the gain percent?

A. 10%

B. 15%

C. 25%

D. 20%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Gain = 2, gain% = 2/10*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #3

Share Report

A trader marks his goods 65% above cost and gives a discount of 30%. What is his profit percent?

A. 20%

B. 18%

C. 15.5%

D. 12%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Let CP = 100, MP = 165, SP = 165*0.7 = 115.5, profit = 15.5%.

This question belongs to: Maths Profit And Loss

Explore All Profit And Loss MCQs