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MCQ Problem Solving - Profit and Loss

The CAT Online Free Test Prep MCQs Problem Solving - Profit and Loss

Problem Solving: Profit and Loss

Question:

A man buys an article for Rs. 27.50 and sells it for Rs 28.60. Find his gain percent
Option A:      1%
Option B:      2%
Option C:      3%
Option D:      4%
  A     B     C     D  
Show/Hide Answer and Explanation

Correct Answer: D

Explanation Video

Explanation

C.P. = 27.50

S.P. = 28.60

Gain = 28.60 - 27.50 = Rs. 1.10

Gain%=( Gain Cost × 100)% = ( 1.10 27.50 × 100)% = 4%
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How to Solve Profit and Loss

For Profit and Loss question first understand the statement and the question stem. Try to solve and click the corresponding answer option. The drop down will appear to show the correct answer and explanation.