A person purchased an item for Rs. 700 and sold it at a loss of 15%. What is the selling price? MCQ with Answer and Explanation

A person purchased an item for Rs. 700 and sold it at a loss of 15%. What is the selling price?
A. Rs. 600
B. Rs. 615
C. Rs. 595
D. Rs. 580
Answer: Option C
Solution (By JKSSB Mock Tests)
Loss = 15% of 700 = 105, SP = 700 - 105 = 595.

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Practice More Profit And Loss Questions

Question #1
A trader allows a discount of 12% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.
A. Rs. 681.82
B. Rs. 700
C. Rs. 660
D. Rs. 670

Correct Answer: Option A


Explanation:
SP = 500*1.2 = 600. MP = 600 / 0.88 = 681.82.

This question belongs to: Maths Profit And Loss
Question #2
A shopkeeper bought 600 kg of rice. He sold a part of it at 15% profit and the remaining at 20% loss. If he incurred an overall loss of 6%, what quantity of rice was sold at 20% loss?
A. 300 kg
B. 360 kg
C. 240 kg
D. 400 kg

Correct Answer: Option B


Explanation:
Let the quantity sold at 15% profit be x kg. The quantity sold at 20% loss is (600 - x) kg. Overall loss is 6%. So, 15x - 20(600 - x) = -6 * 600. 15x - 12000 + 20x = -3600. 35x = 8400. x = 240. Quantity sold at 20% loss = 600 - 240 = 360 kg.

This question belongs to: Maths Profit And Loss
Question #3
If the loss is one-fifth of the cost price, what is the loss percentage?
A. 30%
B. 20%
C. 16.67%
D. 25%

Correct Answer: Option B


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

This question belongs to: Maths Profit And Loss