A man sells an item for Rs. 600, gaining 20%. What is the cost price? MCQ with Answer and Explanation

Question

Share Report Error

A man sells an item for Rs. 600, gaining 20%. What is the cost price?

A. Rs. 480

B. Rs. 520

C. Rs. 550

D. Rs. 500

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 600 / 1.20 = 500.

This question belongs to: Maths Profit And Loss

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Profit And Loss Questions

Question #1

Share Report

A dealer marks his goods 50% above cost price and gives a discount of 20%. What is his gain percent?

A. 30%

B. 25%

C. 20%

D. 15%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Let CP=100, MP=150, SP=150*0.8=120, gain=20%.

This question belongs to: Maths Profit And Loss

Question #2

Share Report

An article is sold at a profit of 20%. If the cost price is Rs. 250, what is the selling price?

A. Rs. 300

B. Rs. 280

C. Rs. 270

D. Rs. 320

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Selling price = Cost price + Profit = 250 + 20% of 250 = 250 + 50 = Rs. 300.

This question belongs to: Maths Profit And Loss

Question #3

Share Report

A person buys a pen for Rs. 20 and sells it for Rs. 25. What is the gain percentage?

A. 30%

B. 25%

C. 20%

D. 15%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Gain = 5, gain% = 5/20*100=25%.

This question belongs to: Maths Profit And Loss

Explore All Profit And Loss MCQs