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IB ACIO — free MCQ practice

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An item is bought for ₹400 and sold for ₹480. Find the gain percent.Read the answer and worked solution →A shopkeeper sells an item at a profit of $25\%$. If the cost price is ₹$240$, find the selling price.Read the answer and worked solution →A trader sold an article for ₹$828$ at a loss of $8\%$. At what price should he sell it to gain $12\%$?Read the answer and worked solution →By selling $33$ metres of cloth a man gains the cost price of $11$ metres of cloth. Find his gain percent.Read the answer and worked solution →

Worked practice questions

An item is bought for ₹400 and sold for ₹480. Find the gain percent.

  1. $15\%$
  2. $20\%$
  3. $25\%$
  4. $30\%$
Show answer and solution

Correct answer: B. $20\%$

Gain $= 480 - 400 = 80$. Gain $\% = \dfrac{80}{400} \times 100 = 20\%$.

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A shopkeeper sells an item at a profit of $25\%$. If the cost price is ₹$240$, find the selling price.

  1. ₹$260$
  2. ₹$275$
  3. ₹$290$
  4. ₹$300$
Show answer and solution

Correct answer: D. ₹$300$

SP $= \dfrac{(100 + \text{Gain}\%)}{100} \times \text{CP} = \dfrac{125}{100} \times 240 = ₹300$.

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A trader sold an article for ₹$828$ at a loss of $8\%$. At what price should he sell it to gain $12\%$?

  1. ₹$1008$
  2. ₹$990$
  3. ₹$1020$
  4. ₹$950$
Show answer and solution

Correct answer: A. ₹$1008$

First recover CP from the loss-side: $\text{CP} = \dfrac{100 \times \text{SP}}{100 - \text{Loss}\%} = \dfrac{100 \times 828}{92} = ₹900$. Then apply gain side: SP $= \dfrac{(100 + 12)}{100} \times 900 = ₹1008$.

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