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

Question

Share Report Error

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

A. Rs. 500

B. Rs. 510

C. Rs. 480

D. Rs. 520

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 540/1.08 = 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

If the cost price of 7 articles is equal to the selling price of 5 articles, find the gain percent.

A. 25%

B. 30%

C. 40%

D. 20%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
Let CP of 1 = 1, CP of 7 = 7, SP of 5 = 7 => SP of 1 = 7/5 = 1.4, gain = 40%.

This question belongs to: Maths Profit And Loss

Question #2

Share Report

A man sells a watch for Rs. 560, gaining 12%. Find the cost price.

A. Rs. 500

B. Rs. 520

C. Rs. 480

D. Rs. 540

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
CP = 560 / 1.12 = 500.

This question belongs to: Maths Profit And Loss

Question #3

Share Report

A shopkeeper marks his goods at 20% above the cost price and allows a discount of 10%. What is his net profit percentage?

A. 15%

B. 8%

C. 12%

D. 10%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Let Cost Price = 100. Marked Price = 120. Selling Price after 10% discount = 120 * 0.90 = 108. Profit = 108 - 100 = 8. Net profit percentage = 8%.

This question belongs to: Maths Profit And Loss

Explore All Profit And Loss MCQs