Profit and Loss Practice Test 2

Question : 14 of 40

Marks: +1, -0

The marked prices of articles in a shop are 20% more than their cost prices. The shopkeeper givesa discount of Rs. 40 on a purchase of Rs. 960. What is net per cent profit?

Validate

Solution:

Let C.P. = Rs. x, then marked price =

120/100x

= Rs.

6/5x

Now,

6/5x = 960

∴x = {5× 960}/6

= Rs. 800
S.P. = 960 – 40 = Rs. 920; profit = 920 – 800 = Rs. 120
Hence, profit %

=120/800 ×100 = 15%

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