Paper 1 · Mathematical Reasoning and Aptitude
UGC NET June 2023 (20.06.2023) Shift-I
70 percent of the cost price of an article is equal to 50 percent of its selling price. The percentage of profit or loss on the cost price is
A20% profit
B20% loss
C40% profit ✓ Correct
D40% loss
Correct answer: (C) 40% profit — There is a 40 percent profit, so the answer is 40 percent profit.
Explanation
★There is a 40 percent profit, so the answer is 40 percent profit.
★Let the cost price be x and the selling price be y.
★The condition is 70 percent of x equals 50 percent of y.
★So 0.7x equals 0.5y, which gives x to y as 5 to 7.
★So for a cost of 5 the selling price is 7, a gain of 2.
★The profit percentage is 2 over 5 times 100.
★That equals 40 percent.
Want more like this? Create a free account to practise a full test, track your progress, and get spaced-repetition review.
Shared by Mcqkart · via Mcqkart.in