Multiple Choice Questions on There is a profit of 20 on the cost price of an article The percent of profit when calculated on sel........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

There is a profit of 20 on the cost price of an article The percent of profit when calculated on sel...........

Quant (SSC) Profit and loss
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    There is a profit of 20% on the cost price of an article. The percent of profit, when calculated on selling price is

    16 2/3%

    Correct Answer

    20%

    Incorrect Answer

    33%

    Incorrect Answer

    50%

    Incorrect Answer
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    Explanation:

    Let CP of article = ? x
    SP = 120x/100 = 6x/5
    Profit = SP – CP = 6x/5 – x = x/5
    ∴ Gain per cent = Profit /SP X 100
    = x/5 / 6x/5 x 100
    = 50/3 = 16 2/3%

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