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Practice mode Profit and Loss

By selling 33 metres of cloth, a draper gains the selling price of 11 metres. What is his gain percentage?

Correct answer D. 50%

Explanation

SP(33) - CP(33) = SP(11), so CP(33) = SP(22). Gain = SP of 11 m on a cost equal to SP of 22 m, so gain% = 11/22 × 100 = 50%.

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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

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

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