Q1): A shopkeeper buys an item for ₹100 and sells it for ₹120. What is the profit percent?
A) 10%
B) 20%
C) 25%
D) 30%
Answer: B) 20%
Explanation:
- Step 1: Formula: Profit = SP − CP
- Step 2: Profit = 120 − 100 = 20
- Step 3: Formula: Profit% = (Profit/CP) × 100
- Step 4: Profit% = (20/100) × 100 = 20%
- Final: Profit percent is 20%, so option B is correct.
Q2): An item is sold for ₹450 with a loss of ₹50. Find the cost price (CP).
A) ₹350
B) ₹400
C) ₹450
D) ₹500
Answer: B) ₹500
Explanation:
- Step 1: Formula: Loss = CP − SP
- Step 2: 50 = CP − 450
- Step 3: CP = 450 + 50 = 500
- Final: Cost price is ₹500, so option B is correct.
Q3): Cost price is ₹200 and profit is 15%. Find the selling price (SP).
A) ₹215
B) ₹225
C) ₹230
D) ₹240
Answer: C) ₹230
Explanation:
- Step 1: Formula: SP = CP × (1 + Profit%/100)
- Step 2: Profit% = 15, so factor = 1 + 15/100 = 1.15
- Step 3: SP = 200 × 1.15 = 230
- Final: Selling price is ₹230, so option C is correct.
Q4): Marked price (MP) is ₹500 and discount is 10%. Find the selling price (SP).
A) ₹450
B) ₹455
C) ₹460
D) ₹470
Answer: A) ₹450
Explanation:
- Step 1: Discount = 10% of 500
- Step 2: Discount = (10/100) × 500 = 50
- Step 3: Formula: SP = MP − Discount
- Step 4: SP = 500 − 50 = 450
- Final: Selling price is ₹450, so option A is correct.
Q5): A person buys a book for ₹240 and sells it for ₹216. What is the loss percent?
A) 5%
B) 8%
C) 10%
D) 12%
Answer: C) 10%
Explanation:
- Step 1: Formula: Loss = CP − SP
- Step 2: Loss = 240 − 216 = 24
- Step 3: Formula: Loss% = (Loss/CP) × 100
- Step 4: Loss% = (24/240) × 100 = 10%
- Final: Loss percent is 10%, so option C is correct.
Q6): If an item is sold for ₹360 at a loss of 10%, find the cost price (CP).
A) ₹380
B) ₹390
C) ₹400
D) ₹420
Answer: C) ₹400
Explanation:
- Step 1: Loss 10% means SP = 90% of CP
- Step 2: SP = 0.90 × CP
- Step 3: 360 = 0.90 × CP
- Step 4: CP = 360 / 0.90 = 400
- Final: Cost price is ₹400, so option C is correct.
Q7): If an item is sold for ₹660 at a profit of 10%, find the cost price (CP).
A) ₹600
B) ₹610
C) ₹620
D) ₹640
Answer: A) ₹600
Explanation:
- Step 1: Profit 10% means SP = 110% of CP
- Step 2: SP = 1.10 × CP
- Step 3: 660 = 1.10 × CP
- Step 4: CP = 660 / 1.10 = 600
- Final: Cost price is ₹600, so option A is correct.
Q8): A shopkeeper gains ₹80 by selling an item for ₹480. Find the cost price (CP).
A) ₹320
B) ₹380
C) ₹400
D) ₹420
Answer: C) ₹400
Explanation:
- Step 1: Formula: Profit = SP − CP
- Step 2: 80 = 480 − CP
- Step 3: CP = 480 − 80 = 400
- Final: Cost price is ₹400, so option C is correct.
Q9): An item is sold for ₹525 with a profit of 25%. Find the cost price (CP).
A) ₹400
B) ₹410
C) ₹420
D) ₹450
Answer: A) ₹420
Explanation:
- Step 1: Profit 25% means SP = 125% of CP
- Step 2: SP = 1.25 × CP
- Step 3: 525 = 1.25 × CP
- Step 4: CP = 525 / 1.25 = 420
- Final: Cost price is ₹420, so option A is correct.
Q10): MP is ₹800 and discount is 15%. Find the SP.
A) ₹660
B) ₹680
C) ₹700
D) ₹720
Answer: B) ₹680
Explanation:
- Step 1: Discount = 15% of 800
- Step 2: Discount = (15/100) × 800 = 120
- Step 3: SP = MP − Discount = 800 − 120
- Step 4: SP = 680
- Final: Selling price is ₹680, so option B is correct.
Q11): SP is ₹720 after giving 10% discount. Find the marked price (MP).
A) ₹760
B) ₹780
C) ₹800
D) ₹820
Answer: C) ₹800
Explanation:
- Step 1: 10% discount means SP = 90% of MP
- Step 2: SP = 0.90 × MP
- Step 3: 720 = 0.90 × MP
- Step 4: MP = 720 / 0.90 = 800
- Final: Marked price is ₹800, so option C is correct.
Q12): An item’s CP is ₹400. It is marked at ₹500 and sold at 10% discount. Find profit percent.
A) 10%
B) 12.5%
C) 15%
D) 20%
Answer: B) 12.5%
Explanation:
- Step 1: SP after 10% discount = 90% of 500 = 0.90 × 500 = 450
- Step 2: Profit = SP − CP = 450 − 400 = 50
- Step 3: Profit% = (Profit/CP) × 100 = (50/400) × 100
- Step 4: Profit% = 12.5%
- Final: Profit percent is 12.5%, so option B is correct.
Q13): A trader sells an item at ₹540 after giving 10% discount on MP ₹600. If he still gains 20%, find CP.
A) ₹420
B) ₹450
C) ₹480
D) ₹500
Answer: B) ₹450
Explanation:
- Step 1: 10% discount on 600 gives SP = 540 (already given)
- Step 2: Profit 20% means SP = 120% of CP
- Step 3: SP = 1.20 × CP → 540 = 1.20 × CP
- Step 4: CP = 540 / 1.20 = 450
- Final: Cost price is ₹450, so option B is correct.
Q14): An item is sold for ₹300. If the profit is 20%, find the profit amount.
A) ₹40
B) ₹50
C) ₹60
D) ₹70
Answer: C) ₹50
Explanation:
- Step 1: Profit 20% means SP = 120% of CP
- Step 2: CP = SP / 1.20 = 300 / 1.20 = 250
- Step 3: Profit = SP − CP = 300 − 250
- Step 4: Profit = 50
- Final: Profit amount is ₹50, so option C is correct.
Q15): An article is sold at ₹480 with a loss of 20%. What would be the SP for 20% profit (same CP)?
A) ₹560
B) ₹600
C) ₹720
D) ₹800
Answer: B) ₹720
Explanation:
- Step 1: Loss 20% means SP = 80% of CP
- Step 2: 480 = 0.80 × CP → CP = 480 / 0.80 = 600
- Step 3: For 20% profit, SP = 120% of CP = 1.20 × 600
- Step 4: SP = 720
- Final: New selling price is ₹720, so option B is correct.
Q16): A shopkeeper marks an item at ₹1000 and gives successive discounts of 10% and 20%. Find the final selling price.
A) ₹700
B) ₹720
C) ₹750
D) ₹800
Answer: B) ₹720
Explanation:
- Step 1: After 10% discount, price = 1000 × 0.90 = 900
- Step 2: After 20% discount on 900, price = 900 × 0.80 = 720
- Final: Final selling price is ₹720, so option B is correct.
Q17): For the case in Q16, what is the equivalent single discount percent on ₹1000?
A) 25%
B) 26%
C) 28%
D) 30%
Answer: C) 28%
Explanation:
- Step 1: From Q16, final SP = 720, MP = 1000
- Step 2: Total discount = MP − SP = 1000 − 720 = 280
- Step 3: Discount% = (280/1000) × 100
- Step 4: Discount% = 28%
- Final: Equivalent discount is 28%, so option C is correct.
Q18): A shopkeeper sells an item for ₹360 and makes a profit of ₹60. Find profit percent.
A) 16.67%
B) 18%
C) 20%
D) 25%
Answer: C) 20%
Explanation (Line-by-Line):
- Step 1: Profit = SP − CP, so CP = SP − Profit
- Step 2: CP = 360 − 60 = 300
- Step 3: Profit% = (Profit/CP) × 100 = (60/300) × 100
- Step 4: Profit% = 20%
- Final: Profit percent is 20%, so option C is correct.
Q19): An item is sold for ₹880 at a profit of 10%. Find the profit amount.
A) ₹70
B) ₹80
C) ₹90
D) ₹100
Answer: B) ₹80
Explanation:
- Step 1: Profit 10% means SP = 110% of CP
- Step 2: CP = SP / 1.10 = 880 / 1.10 = 800
- Step 3: Profit = SP − CP = 880 − 800
- Step 4: Profit = 80
- Final: Profit amount is ₹80, so option B is correct.
Q20): CP is ₹750. If the loss is 8%, find the SP.
A) ₹675
B) ₹690
C) ₹700
D) ₹710
Answer: B) ₹690
Explanation:
- Step 1: Loss 8% means SP = 92% of CP
- Step 2: SP = 0.92 × 750
- Step 3: SP = 690
- Final: Selling price is ₹690, so option B is correct.