Question : By selling an article for Rs. 33,000 a man gains 10%. To get a profit of 20%, he has to sell it for:
Option 1: Rs. 30,000
Option 2: Rs. 35,000
Option 3: Rs. 36,000
Option 4: Rs. 36,600
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Correct Answer: Rs. 36,000
Solution : Let the cost price of the article be Rs. $x$. A gain of $10\%$ on the cost price is equal to $0.10x$. So, the selling price is the cost price plus the gain: Selling Price = Cost Price + Gain = $x+0.10x=1.10x$ Given that the selling price is Rs. 33,000: ⇒ $1.10x=33,000$ ⇒ $x = 30,000$ So, the cost price ($x$) is Rs. 30,000. Now, to get a profit of $20\%$, the selling price needs to be: New Selling Price = Cost Price + 0.20$\times$Cost Price ⇒ New Selling Price = $x+0.20x = 1.20x$ $=1.20\times30,000=36,000$ Hence, the correct answer is Rs. 36,000.
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Question : A man gains 20% by selling an article for a certain price. If he sells it at double the price, the percentage of profit will be:
Option 1: 40%
Option 2: 100%
Option 3: 120%
Option 4: 140%
Question : The percentage profit earned by selling an article for Rs. 2,000 is the same as the percentage loss incurred by selling the same article for Rs. 1,200. At what price should that article be sold to make a profit of 20%?
Option 1: 2,000
Option 2: 1,800
Option 3: 1,920
Option 4: 1,840
Question : By selling a tape recorder for Rs. 1040, a man gains 4%. If he sells it for Rs. 950, his loss will be:
Option 1: 5%
Option 2: 4%
Option 3: 4.5%
Option 4: 9%
Question : A merchant marked the price of an article by increasing its production cost by 40%. Now he allows a 20% discount and gets a profit of Rs. 48 after selling it. The production cost is:
Option 1: Rs. 320
Option 2: Rs. 360
Option 3: Rs. 400
Option 4: Rs. 440
Question : A man sells two articles at Rs. 9,975 each. He gains 5% on one article and loses 5% on the other. Find his overall gain or loss.
Option 1: Loss Rs. 60
Option 2: Profit Rs. 50
Option 3: Profit Rs. 60
Option 4: Loss Rs. 50
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