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

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A person sold a watch for Rs. 960, gaining 20%. What was its cost price?

A. Rs. 820

B. Rs. 780

C. Rs. 840

D. Rs. 800

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 960/1.2 = 800.

This question belongs to: Maths Profit And Loss

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Question #1

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A shopkeeper marks his goods 70% above cost and gives a discount of 40%. What is his profit percent?

A. 8%

B. 2%

C. 10%

D. 5%

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Correct Answer: Option B

This question belongs to: Maths Profit And Loss

Question #2

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The cost price of 5 pens is equal to the selling price of 4 pens. Find the profit percentage.

A. 25%

B. 33.33%

C. 20%

D. 30%

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Correct Answer: Option A

Explanation:
Let the cost price of 1 pen be CP and selling price of 1 pen be SP. Given 5 * CP = 4 * SP, so SP / CP = 5 / 4. Profit = SP - CP = 5 - 4 = 1 unit. Profit Percentage = (1 / 4) * 100 = 25%.

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Question #3

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A dealer buys an article at a 20% discount on its marked price. He spends 10% of the cost price on repairs and sells it at a 15% profit on the marked price. Find his total profit percentage.

A. 32%

B. 28.5%

C. 25%

D. 30.68%

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Correct Answer: Option D

Explanation:
Let Marked Price = 100. Buy price = 80. Repairs = 8. Total Cost Price = 88. Selling Price = 115. Profit = 27. Profit percentage = (27 / 88) * 100 = 30.68%.

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