Multiple Choice Questions on A shopkeeper allows 2 discount and gives 1 article free on purchase of 6 articles He earns 40 profit........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A shopkeeper allows 2 discount and gives 1 article free on purchase of 6 articles He earns 40 profit...........

Quantitative Aptitude ( CCS) Profit and loss
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    A shopkeeper allows 2% discount and gives 1 article free on purchase of 6 articles. He earns 40% profit during the transaction. By what percent above the cost price he marked his good.

    50%

    Incorrect Answer

    60%

    Incorrect Answer

    42 (6/7)%

    Incorrect Answer

    66 (2/3)%

    Correct Answer
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    Explanation:

    Discount=2%=1/50 MP:SP=50:49
    Profit=40%=2/5=> CP:SP=5:7
    MP:SP:CP=50:49:35
    This 35 is the CP of (6+1)

    the CP for 6 will be 30
    (50-30)/30*100= 66 (2/3)%

    Hence, option 4 is the correct answer.

    By: Amit Kumar
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