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. 500

B. Rs. 480

C. Rs. 460

D. Rs. 520

Answer: Option B

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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A person sold a table for Rs. 1200, gaining 20%. What was the cost price?

A. Rs. 980

B. Rs. 1100

C. Rs. 1000

D. Rs. 1050

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Correct Answer: Option C

Explanation:
CP = 1200/1.2 = 1000.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper sells a transistor at 15% above its cost price. If he had bought it at 5% more than what he paid for it and sold it for Rs. 6 more, he would have gained 10%. Find the cost price of the transistor.

A. Rs. 1200

B. Rs. 600

C. Rs. 800

D. Rs. 1000

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Correct Answer: Option A

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 105x. New Selling Price = 105x * 1.10 = 115.5x. Difference in Selling Price = 115.5x - 115x = 0.5x. 0.5x = 6. x = 12. Cost Price = 100 * 12 = 1200.

This question belongs to: Maths Profit And Loss