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By selling a watch for Rs. 2,000, a shopkeeper loses 20%. How much would he gain or lose by selling it for Rs. 3,000?

This question was previously asked in
SSC CGL 2023 Tier-I Official Paper (Held On: 18 Jul 2023 Shift 3)
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  1. 20% gain
  2. 25% gain
  3. 15% loss
  4. 25% loss

Answer (Detailed Solution Below)

Option 1 : 20% gain
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Detailed Solution

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Given:

By selling a watch for Rs. 2,000, a shopkeeper loses 20%

Concept used:

Profit is calculated on cost price.

Calculation:

The cost price is 2000 × 100/80 = Rs 2500

By selling it for 3000

Profit is 3000 - 2500 = Rs 500

Profit percentage is (500/2500) × 100 = 20%

∴ The correct option is 1

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Last updated on Jun 10, 2025

-> The SSC CGL Notification 2025 has been released on 9th June 2025 on the official website at ssc.gov.in.

-> The SSC CGL exam registration process is now open and will continue till 4th July 2025, so candidates must fill out the SSC CGL Application Form 2025 before the deadline.

-> This year, the Staff Selection Commission (SSC) has announced approximately 14,582 vacancies for various Group B and C posts across government departments.

->  The SSC CGL Tier 1 exam is scheduled to take place from 13th to 30th August 2025.

->  Aspirants should visit ssc.gov.in 2025 regularly for updates and ensure timely submission of the CGL exam form.

-> Candidates can refer to the CGL syllabus for a better understanding of the exam structure and pattern.

-> The CGL Eligibility is a bachelor’s degree in any discipline.

-> Candidates selected through the SSC CGL exam will receive an attractive salary. Learn more about the SSC CGL Salary Structure.

-> Attempt SSC CGL Free English Mock Test and SSC CGL Current Affairs Mock Test.

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More Simple Profit and Loss Questions

Q1.A shopkeeper bought certain number of apples for Rs. 3,600. He sold one-fifth of them at a loss of 10%, one-fourth of the remaining apples at a loss of 5%, and two-third of the rest at a profit of 15%. At what price (in Rs.) should he sell the remaining apples to earn a profit of 27% overall?
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More Profit and Loss Questions

Q1.M and R went for shopping and bought two sarees each at different cost. Cost price of saree bought by R is Rs.250 more than the cost price of saree bought by M. Shopkeeper earned a profit of 20% on selling both the sarees together to R and M which he bought them at total Rs.6000. At what cost did M buy saree?
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