WBCS.LIVE practice question

Mr. Akash buys a toy for Rs. 27.50 and sells it for Rs. 28.60. Find the gain percentage

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 5%
  2. 4%
  3. 6%
  4. 3%

Correct answer and explanation

Correct answer: 4%

Explanation: āœ… Correct Answer: B. 4% šŸ“š Explanation: Profit = Selling Price - Cost Price = 28.60 - 27.50 = Rs. 1.10. Gain percentage = (Profit / Cost Price) x 100. Calculation: (1.10 / 27.50) x 100 = 0.04 x 100 = 4%. Mr. Akash made a 4 percent profit on the sale of the toy.