A person sells a bag for Rs. 540, making a profit of 8%. What was the cost price? MCQ with Answer and Explanation

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A person sells a bag for Rs. 540, making a profit of 8%. What was the cost price?

A. Rs. 520

B. Rs. 510

C. Rs. 500

D. Rs. 480

Answer: Option C

Solution (By JKSSB Mock Tests)

CP = 540/1.08 = 500.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of 12 articles is equal to the selling price of 15 articles, find the loss percent.

A. 15%

B. 10%

C. 25%

D. 20%

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Correct Answer: Option D

Explanation:
Let CP of 1 = 1, CP of 12 = 12, SP of 15 = 12 => SP of 1 = 12/15 = 0.8, loss = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A man bought a shirt for Rs. 450 and sold it for Rs. 540. What is the gain percentage?

A. 15%

B. 30%

C. 20%

D. 25%

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Correct Answer: Option C

Explanation:
Gain = 90, gain% = 90/450*100=20%.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper sells a product for Rs. 630, losing 10%. Find the cost price.

A. Rs. 720

B. Rs. 700

C. Rs. 650

D. Rs. 680

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Correct Answer: Option B

Explanation:
SP = 90% of CP => CP = 630 / 0.9 = 700.

This question belongs to: Maths Profit And Loss

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