A person buys a shirt for Rs. 500 and sells it for Rs. 400. What is the loss percentage? MCQ with Answer and Explanation

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A person buys a shirt for Rs. 500 and sells it for Rs. 400. What is the loss percentage?

A. 20%

B. 30%

C. 15%

D. 25%

Answer: Option A

Solution (By JKSSB Mock Tests)

Loss = 100, loss% = 100/500*100 = 20%.

This question belongs to: Maths Profit And Loss

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Question #1

A shopkeeper sells a chair for Rs. 540, gaining 8%. Find the cost price.

A. Rs. 480

B. Rs. 540

C. Rs. 500

D. Rs. 520

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Correct Answer: Option C

Explanation:
CP = 540 / 1.08 = 500.

This question belongs to: Maths Profit And Loss

Question #2

A man sells a watch for Rs. 880, gaining 10%. Find the cost price.

A. Rs. 840

B. Rs. 800

C. Rs. 780

D. Rs. 820

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Correct Answer: Option B

Explanation:
CP = 880 / 1.10 = 800.

This question belongs to: Maths Profit And Loss

Question #3

If the cost price of an article is Rs. 420 and it is sold at a profit of 15%, what is the selling price?

A. Rs. 470

B. Rs. 500

C. Rs. 483

D. Rs. 490

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Correct Answer: Option C

Explanation:
SP = 420 * 1.15 = 483.

This question belongs to: Maths Profit And Loss

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