A man sells a watch for Rs. 700, gaining 40%. Find the cost price. MCQ with Answer and Explanation

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A man sells a watch for Rs. 700, gaining 40%. Find the cost price.

A. Rs. 480

B. Rs. 550

C. Rs. 520

D. Rs. 500

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 700 / 1.40 = 500.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of 10 articles is equal to the selling price of 8 articles, find the profit percentage.

A. 20%

B. 25%

C. 30%

D. 15%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1, CP of 10 = 10, SP of 8 = 10 => SP of 1 = 10/8 = 1.25, profit = 25%.

This question belongs to: Maths Profit And Loss

Question #2

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A man buys a shirt for Rs. 400 and sells it for Rs. 480. What is the gain percent?

A. 20%

B. 15%

C. 30%

D. 25%

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Correct Answer: Option A

Explanation:
Gain = 80, gain% = 80/400*100=20%.

This question belongs to: Maths Profit And Loss

Question #3

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The difference between selling an article at a profit of 8% and a loss of 4% is Rs. 108. Find the cost price.

A. Rs. 900

B. Rs. 950

C. Rs. 850

D. Rs. 800

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Correct Answer: Option A

Explanation:
Difference = 8% - (-4%) = 12% of CP. 12% of CP = 108. CP = 10800 / 12 = Rs. 900.

This question belongs to: Maths Profit And Loss

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