A dealer sells an article at a loss of 4%. Had he sold it for Rs. 120 more, he would have gained 8%. What is the cost price of the article? MCQ with Answer and Explanation

Question

A dealer sells an article at a loss of 4%. Had he sold it for Rs. 120 more, he would have gained 8%. What is the cost price of the article?

A. Rs. 1000

B. Rs. 1200

C. Rs. 900

D. Rs. 800

Answer: Option A

Solution (By JKSSB Mock Tests)

The difference between an 8% gain and a 4% loss is 12% of the cost price. So, 12% of CP = 120. CP = (120 * 100) / 12 = Rs. 1000.

This question belongs to: Maths Profit And Loss

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Question #1

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A dealer allows a discount of 20% on an article and still gains 20%. If the marked price is Rs. 1500, find the cost price.

A. Rs. 1100

B. Rs. 1000

C. Rs. 1050

D. Rs. 950

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Correct Answer: Option B

Explanation:
SP = 1500*0.8 = 1200. CP = 1200 / 1.2 = 1000.

This question belongs to: Maths Profit And Loss

Question #2

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If the loss is one-fifth of the cost price, what is the loss percentage?

A. 30%

B. 25%

C. 16.67%

D. 20%

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Correct Answer: Option D

Explanation:
Loss = Cost Price / 5. Loss percentage = (Loss / Cost Price) * 100 = (1 / 5) * 100 = 20%.

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Question #3

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A book was sold at a 12% profit. If it had been bought at 10% less and sold for Rs. 5.75 more, the profit would have been 30%. Find the cost price.

A. Rs. 115

B. Rs. 150

C. Rs. 120

D. Rs. 125

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Correct Answer: Option A

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 112x. New Cost Price = 90x. New Selling Price = 90x * 1.30 = 117x. Difference in Selling Price = 117x - 112x = 5x. 5x = 5.75. x = 1.15. Cost Price = 100 * 1.15 = 115.

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