A person sold a watch for Rs. 960, gaining 20%. What was its cost price? MCQ with Answer and Explanation

A person sold a watch for Rs. 960, gaining 20%. What was its cost price?
A. Rs. 820
B. Rs. 840
C. Rs. 780
D. Rs. 800
Answer: Option D
Solution (By JKSSB Mock Tests)
CP = 960/1.2 = 800.

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Practice More Profit And Loss Questions

Question #1
By selling an umbrella for Rs. 300, a shopkeeper gains 20%. During a clearance sale, the shopkeeper allows a discount of 10% on the marked price. His gain percentage during the sale season is:
A. 8%
B. 9%
C. 7%
D. 7.5%

Correct Answer: Option A


Explanation:
Marked Price = 300. Original SP = 300. Profit = 20%, so CP = 300 / 1.2 = 250. Discount during sale = 10% on MP. New SP = 300 - 30 = 270. Profit = 270 - 250 = 20. Profit % = (20 / 250) * 100 = 8%.

This question belongs to: Maths Profit And Loss
Question #2
A dealer allows a discount of 15% on the marked price and still gains 20%. If the cost price is Rs. 500, find the marked price.
A. Rs. 705.88
B. Rs. 700
C. Rs. 720
D. Rs. 680

Correct Answer: Option A


Explanation:
SP = 500*1.2 = 600. MP = 600 / 0.85 = 705.88.

This question belongs to: Maths Profit And Loss
Question #3
A dealer marks his goods 40% above the cost price. He sells 50% of the goods at the marked price, 25% at a 20% discount on the marked price, and the rest at a 40% discount on the marked price. What is his overall profit percentage?
A. 21%
B. 15%
C. 18%
D. 19%

Correct Answer: Option D


Explanation:
Let 100 items cost 10000. Marked Price = 140. 50 items sold at 140 = 7000. 25 items sold at 112 (140 * 0.8) = 2800. 25 items sold at 84 (140 * 0.6) = 2100. Total Selling Price = 7000 + 2800 + 2100 = 11900. Total Cost Price = 10000. Profit = 1900. Profit percentage = 19%.

This question belongs to: Maths Profit And Loss