There would be 10% loss if a toy is said at Rs. 10.80 per piece. At what price should it be sold to earn a profit of 20%?
Correct answer: C. Rs. 14.40
- A. Rs. 12
- B. Rs. 12.96
- C. Rs. 14.40
- D. None of these
Explanation
Rs. 10.80 represents 90% of the cost price, so cost price = Rs. 10.80/0.90 = Rs. 12.00 per piece. A 20% profit requires Rs. 12.00 x 1.20 = Rs. 14.40 per piece. Students may choose Rs. 12.96 by adding 20% directly to the given loss price.
Last updated
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.
Practise Arithmetic
1,060 free Arithmetic MCQs from Mathematics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Mathematics questions like this
Mathematics is on 67 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
Related questions
A 6% stock yields 8%. The market value of the stock is:___________?
A, B and C are partners in a business. Their capitals are respectively, Rs.5000, Rs.6000 and Rs.4000. A gets 30% of the total profit for managing the business. The remaining profit is divided among three in the ratio of their capitals. In the end of the year, the profit of A is Rs.200 more than the sum of the profits of B and C. Find the total profit.
A cloth merchant has announced 25% rebate in prices. If one needs to have a rebate of Rs. 40. Then how many shirts each costing Rs.32 he should purchase?
A cycle is bought for Rs.900 and sold for Rs.1080, find the gain percent?
A dealer marks his goods 20% above cost price. He then allows some discount on it and makes a profit of 8%. The rate of discount is: