A person sold a TV for Rs. 12000, making a profit of 20%. What was the cost price? MCQ with Answer and Explanation

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A person sold a TV for Rs. 12000, making a profit of 20%. What was the cost price?

A. Rs. 10000

B. Rs. 10500

C. Rs. 11000

D. Rs. 9500

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 12000 / 1.20 = 10000.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of an item is Rs. 240 and the selling price is Rs. 216, what is the loss percentage?

A. 8%

B. 10%

C. 15%

D. 12%

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Correct Answer: Option B

Explanation:
Loss = 24, loss% = 24/240*100=10%.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper sells a product for Rs. 648, gaining 8%. Find the cost price.

A. Rs. 620

B. Rs. 580

C. Rs. 600

D. Rs. 640

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Correct Answer: Option C

Explanation:
CP = 648 / 1.08 = 600.

This question belongs to: Maths Profit And Loss

Question #3

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By selling 45 lemons for Rs. 40, a man loses 20%. How many should he sell for Rs. 24 to gain 20%?

A. 20

B. 22

C. 16

D. 18

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Correct Answer: Option D

Explanation:
Selling Price of 45 lemons = 40. Cost Price of 45 lemons = 40 / 0.80 = 50. Desired Selling Price for 45 lemons for 20% profit = 50 * 1.20 = 60. To get Rs. 60, he sells 45 lemons. To get Rs. 24, he must sell (45 / 60) * 24 = 18 lemons.

This question belongs to: Maths Profit And Loss

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