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Practice mode Profit and Loss

A trader sells a carpet for Rs. 1,380 and makes a profit of 15%. What was the cost price of the carpet?

Correct answer B. Rs. 1,200

Explanation

Cost price = SP × 100/(100 + gain%) = 1,380 × 100/115 = Rs. 1,200. Taking 15% off the selling price would wrongly use the selling price as the base.

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Question 01 Profit and Loss

What is the percent profit earned by the shopkeeper on selling the articles in his shop? I. Labeled price of the articles sold was 130% of the cost price. II. Cost price of each article was Rs. 550. III. A discount of 10% on labeled price was offered.

Correct answer C. I and III

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Question 04 Profit and Loss

By selling a product with 20% profit, how much profit was earned? I. The difference between cost and selling price is Rs. 40. II. The selling price is 120 percent of the cost price.

Correct answer B. II alone sufficient while I alone not sufficient to answer

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