TestUstad
Moderate

What profit percent is made by selling an article at a certain price, if by selling at 2/3rd of that price, there would be a loss of 20%?

Correct answer: A. 20%

  • A. 20%
  • B. 25%
  • C. 13 1/30%
  • D. 12%

Explanation

Let the stated selling price be Rs.100. At two-thirds of this price, the selling price is Rs.66 2/3 and this represents 80% of the cost price, so CP = Rs.66 2/3 / 0.8 = Rs.83 1/3. Selling at Rs.100 gives a profit of Rs.16 2/3, and profit percent = Rs.16 2/3/Rs.83 1/3 x 100 = 20%. Students often choose b by treating the difference between Rs.100 and Rs.66 2/3 as a percentage of the selling price rather than the cost 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.

Start a free Arithmetic testAll Arithmetic MCQs

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.

NET Mathematics80 MCQsATS Mathematics30 MCQsCTS Mathematics30 MCQsECAT Mathematics30 MCQsETEA Engineering Admission Test Mathematics30 MCQsETEA Recruitment Tests Mathematics30 MCQsGAT General Mathematics30 MCQsGIKI Mathematics30 MCQsNAT Mathematics30 MCQsNED Mathematics30 MCQsNTS Mathematics30 MCQsOTS Mathematics30 MCQsPIEAS Mathematics30 MCQsPTS Mathematics30 MCQsSTS Mathematics30 MCQsUTS Mathematics30 MCQsBCAT Mathematics25 MCQsISSB Mathematics25 MCQsPAF Mathematics20 MCQsPakistan Army Commissioned Officer Test Mathematics20 MCQsPakistan Navy Test Mathematics20 MCQsPatwari Test Mathematics20 MCQsPMA Long Course Test Mathematics20 MCQsPMD Mathematics20 MCQsComputer Operator Test Mathematics15 MCQsDEO Mathematics15 MCQsEducators ESE Test Mathematics15 MCQsEducators SESE Test Mathematics15 MCQsEducators SST Test Mathematics15 MCQsFBR Mathematics15 MCQsJEST Mathematics15 MCQsJunior Clerk Test Mathematics15 MCQsLAT Mathematics15 MCQsNADRA Mathematics15 MCQsPST Mathematics15 MCQsSub Registrar Test Mathematics15 MCQsAJKPSC Mathematics10 MCQsAssistant BS-16 Test Mathematics10 MCQsBPSC Mathematics10 MCQsECP Mathematics10 MCQsFIA Mathematics10 MCQsFPSC Mathematics10 MCQsGBPSC Mathematics10 MCQsIB Mathematics10 MCQsKPPSC Mathematics10 MCQsMES Mathematics10 MCQsNAB Mathematics10 MCQsNational Highways and Motorway Police Test Mathematics10 MCQsPakistan Railways Recruitment Test Mathematics10 MCQsPCS Mathematics10 MCQsPIA Mathematics10 MCQsPPSC Mathematics10 MCQsPunjab Police ASI Test Mathematics10 MCQsPunjab Police Sub Inspector Test Mathematics10 MCQsSNGPL Mathematics10 MCQsSPSC Mathematics10 MCQsTehsildar and Naib Tehsildar Test Mathematics10 MCQsWAPDA Mathematics10 MCQsANF Mathematics5 MCQsASF Mathematics5 MCQsCTD Mathematics5 MCQsElite Police Force Test Mathematics5 MCQsPakistan Army Soldier Test Mathematics5 MCQsPakistan Rangers Test Mathematics5 MCQsPERA Force Test Mathematics5 MCQsPunjab Police Constable Test Mathematics5 MCQsRescue 1122 Test Mathematics5 MCQs

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: