If the selling price of an article is increased by 20%, the profit becomes three times the original profit. What was the original profit percentage? MCQ with Answer and Explanation

Question

If the selling price of an article is increased by 20%, the profit becomes three times the original profit. What was the original profit percentage?

A. 11.11%

B. 15%

C. 10%

D. 12.5%

Answer: Option A

Solution (By JKSSB Mock Tests)

Let Cost Price = 100 and initial Selling Price = x. Initial profit = x - 100. New Selling Price = 1.20x. New profit = 1.20x - 100. 1.20x - 100 = 3 * (x - 100). 1.20x - 100 = 3x - 300. 1.8x = 200. x = 111.11. Original profit = 11.11. Profit percentage = 11.11%.

This question belongs to: Maths Profit And Loss

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Question #1

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A dealer allows a discount of 30% on the marked price and still gains 20%. If the cost price is Rs. 700, find the marked price.

A. Rs. 1300

B. Rs. 1200

C. Rs. 1150

D. Rs. 1250

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Correct Answer: Option B

Explanation:
SP = 700*1.2 = 840. MP = 840 / 0.7 = 1200.

This question belongs to: Maths Profit And Loss

Question #2

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After allowing a discount of 20% on the marked price, a trader makes a profit of 12%. If the goods were sold at the marked price without discount, what would be the profit percentage?

A. 30%

B. 45%

C. 40%

D. 35%

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Correct Answer: Option C

Explanation:
Let Cost Price = 100. Selling Price = 112. Marked Price * 0.80 = 112. Marked Price = 140. Profit at Marked Price = 140 - 100 = 40. Profit percentage = 40%.

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Question #3

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A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells the mixture at 9 for Rs. 20. Find his profit or loss percentage.

A. No profit no loss

B. Loss of 2.5%

C. Profit of 1.23%

D. Loss of 1.23%

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Correct Answer: Option D

Explanation:
Buy 20 oranges of type 1 for Rs. 40. Buy 20 oranges of type 2 for Rs. 50. Total 40 oranges cost Rs. 90. Cost Price of 1 orange = 90 / 40 = 2.25. Selling Price of 9 oranges = 20. Selling Price of 1 orange = 20 / 9 = 2.222. Loss = 2.25 - 2.222 = 0.0277. Loss percentage = (0.0277 / 2.25) * 100 = 1.23% loss.

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