Multiple Choice Questions on Purchase an item for Rs 1200 and sold it on a profit of 10 If he sells it at Rs 1380 then calculate ........... for CLAT : Law entrance Exam Preparation

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Multiple Choice Questions

Purchase an item for Rs 1200 and sold it on a profit of 10 If he sells it at Rs 1380 then calculate ...........

Quantitative Aptitiude (CLAT) Profit and loss
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    Purchase an item for Rs 1200 and sold it on a profit of 10%. If he sells it at Rs 1380 then calculate his increase in profit percentage.

    5%

    Correct Answer

    10%

    Incorrect Answer

    12%

    Incorrect Answer

    15%

    Incorrect Answer
    Explanation:

    When an item is sold at 10% profit then
    Selling Price = 1200 * (1.1) = Rs 1320/-
    New selling price = Rs 1380
    Profit percentage = [(1380 - 1200) / 1200] * 100 = (180 / 1200) * 100
    = 15%
    Hence the increase in profit percentage = 15 - 10 = 5 %

    By: Parvesh Mehta
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