A dealer sells a product for Rs. 920, losing 8%. Find the cost price. MCQ with Answer and Explanation

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A dealer sells a product for Rs. 920, losing 8%. Find the cost price.

A. Rs. 1000

B. Rs. 950

C. Rs. 980

D. Rs. 1020

Answer: Option A

Solution (By JKSSB Mock Tests)

SP = 92% of CP => CP = 920 / 0.92 = 1000.

This question belongs to: Maths Profit And Loss

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Question #1

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An article is sold at Rs. X. If it is sold at 54.54% of X, there is a loss of 20%. What is the profit percentage when it is sold at Rs. X?

A. 46.66%

B. 50%

C. 45%

D. 42.5%

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Correct Answer: Option A

Explanation:
54.54% = 6/11. Selling at (6/11) * X results in 20% loss, meaning Selling Price = 0.80 * Cost Price. (6/11) * X = 0.80 * Cost Price. X = (0.80 * 11 / 6) * Cost Price = (8.8 / 6) * Cost Price = (88 / 60) * Cost Price = (22 / 15) * Cost Price. Profit = (22 / 15) - 1 = 7 / 15. Profit percentage = (7 / 15) * 100 = 46.66%.

This question belongs to: Maths Profit And Loss