A dealer sells a chair for Rs. 720, losing 20%. What is the cost price? MCQ with Answer and Explanation

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A dealer sells a chair for Rs. 720, losing 20%. What is the cost price?

A. Rs. 800

B. Rs. 900

C. Rs. 850

D. Rs. 950

Answer: Option B

Solution (By JKSSB Mock Tests)

SP = 80% of CP => CP = 720 / 0.8 = 900.

This question belongs to: Maths Profit And Loss

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Question #1

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An article is sold at Rs. 720, incurring a loss of 10%. What is its cost price?

A. Rs. 820

B. Rs. 780

C. Rs. 850

D. Rs. 800

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Correct Answer: Option D

Explanation:
SP = 90% of CP => CP = 720 / 0.9 = 800.

This question belongs to: Maths Profit And Loss

Question #2

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A dishonest dealer cheats by 10% while buying and 10% while selling using false weights. He marks up his goods by 20% and gives a discount of 10%. Find his true overall profit percentage.

A. 28%

B. 30.68%

C. 33.1%

D. 32%

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Correct Answer: Option D

Explanation:
Multiplier factor = (110 / 100) * (100 / 90) * (120 / 100) * (90 / 100). Value = 1.1 * 1.1111 * 1.2 * 0.9 = 1.32. Profit percentage = 32%.

This question belongs to: Maths Profit And Loss