A shopkeeper buys a product for Rs. 720 and sells it at a loss of 10%. What is the selling price? MCQ with Answer and Explanation

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A shopkeeper buys a product for Rs. 720 and sells it at a loss of 10%. What is the selling price?

A. Rs. 640

B. Rs. 648

C. Rs. 650

D. Rs. 660

Answer: Option B

Solution (By JKSSB Mock Tests)

Loss = 10% of 720 = 72, SP = 720 - 72 = 648.

This question belongs to: Maths Profit And Loss

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An article is sold at 20% profit. If its cost price and selling price are both decreased by Rs. 100, the profit percentage becomes 25%. Find the original cost price.

A. Rs. 450

B. Rs. 400

C. Rs. 600

D. Rs. 500

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Correct Answer: Option D

Explanation:
Let original CP = x. Original SP = 1.2x. New CP = x - 100. New SP = 1.2x - 100. New profit = 25%. So, 1.2x - 100 = 1.25(x - 100). 1.2x - 100 = 1.25x - 125. 0.05x = 25. x = 500.

This question belongs to: Maths Profit And Loss