A person sells an item for Rs. 540, gaining 12.5%. Find the cost price. MCQ with Answer and Explanation

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A person sells an item for Rs. 540, gaining 12.5%. Find the cost price.

A. Rs. 480

B. Rs. 500

C. Rs. 460

D. Rs. 520

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 540 / 1.125 = 480.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of 10 articles is equal to the selling price of 12 articles, find the loss percent.

A. 16.67%

B. 20%

C. 10%

D. 15%

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Correct Answer: Option A

Explanation:
Let CP of 1 = 1, CP of 10 = 10, SP of 12 = 10 => SP of 1 = 10/12 = 0.833, loss = 16.67%.

This question belongs to: Maths Profit And Loss

Question #2

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A tradesman marks his goods at such a price that after allowing a discount of 15%, he makes a profit of 20%. What is the marked price of an article whose cost price is Rs. 170?

A. Rs. 280

B. Rs. 260

C. Rs. 240

D. Rs. 220

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Correct Answer: Option C

Explanation:
SP = 1.2 * CP = 1.2 * 170 = 204. Marked Price (MP) - 15% of MP = SP. 0.85 * MP = 204. MP = 204 / 0.85 = 240.

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Question #3

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A shopkeeper marks his goods 25% above cost and gives a discount of 5%. What is his profit percent?

A. 15%

B. 18.75%

C. 20%

D. 12%

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Correct Answer: Option B

Explanation:
Let CP = 100, MP = 125, SP = 125*0.95 = 118.75, profit = 18.75%.

This question belongs to: Maths Profit And Loss

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