Profit and Loss

MCQ - 435-13202

Question:

Last year Jose sold a painting for $2000. If he made a 25% profit on the sale, how much had he paid for the painting?

$1200
$1500
$1600
$1500
$2500

Correct Answer: C

Explanation:

Last year Jose sold a painting for $2000. If he made a 25% profit on the sale, how much had he paid for the painting?

Cost Price + 25% of the cost price = 2000

Cost Price + $\frac{25}{100}$ × Cost Price = 2000

Cost Price = 2000 × $\frac{100}{125}$ = 1600

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Record Performance

1297 MCQ for effective preparation of the test of Profit and Loss of Word Problems section.

Read the MCQ statement: Last year Jose sold a painting for $2000. If he made a 25% profit on the sale, how much had he paid for the painting? , keenly and apply the method you have learn through the video lessons for Profit and Loss to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 435-13202.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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