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A man purchased a watch for Rs. 400 and sold it at a gain of 20% of the selling price. The selling price of the watch is:__________?

Correct answer: D. Rs. 500Primary & Secondary Schooling (K-12)

  • A. Rs. 300
  • B. Rs. 320
  • C. Rs. 440
  • D. Rs. 500Primary & Secondary Schooling (K-12)

Explanation

Let the selling price be x rupees. A gain of 20% of the selling price means x - Rs. 400 = 0.20x, so 0.80x = Rs. 400 and x = Rs. 500. The common mistake is to calculate 20% of the cost price and add Rs. 80, which would incorrectly give Rs. 480, or to choose Rs. 480 if it were offered.

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About Profit and Loss

Profit and loss compare the cost price and selling price of an item, using profit or loss percentages based on the cost price unless stated otherwise. Questions include marked price, discount, successive discounts, commission, and finding an unknown price, with care needed to distinguish discount from loss.

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