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Practice mode Profit and Loss

A grocer claims to sell rice at cost price, but he uses a weight of 900 g in place of 1 kg. What is his gain percentage?

Correct answer A. 11.11%

Explanation

He gives 900 g but charges for 1,000 g. Gain% = error/(true weight given) × 100 = 100/900 × 100 = 11.11%.

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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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