A shopkeeper sells a bag for Rs. 480, losing 20%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a bag for Rs. 480, losing 20%. Find the cost price.

A. Rs. 580

B. Rs. 620

C. Rs. 600

D. Rs. 560

Answer: Option C

Solution (By JKSSB Mock Tests)

SP = 80% of CP => CP = 480 / 0.8 = 600.

This question belongs to: Maths Profit And Loss

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Question #1

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A man bought a chair for Rs. 600 and sold it for Rs. 720. What is the gain percent?

A. 30%

B. 25%

C. 15%

D. 20%

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Correct Answer: Option D

Explanation:
Gain = 120, gain% = 120/600*100=20%.

This question belongs to: Maths Profit And Loss

Question #2

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A person bought a cycle for Rs. 2000 and sold it for Rs. 2400. What is his profit percentage?

A. 15%

B. 25%

C. 20%

D. 30%

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Correct Answer: Option C

Explanation:
Profit = 400, profit% = 400/2000*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper sells a fan at Rs. 450, making a profit of 12.5%. What is the cost price?

A. Rs. 400

B. Rs. 410

C. Rs. 420

D. Rs. 380

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Correct Answer: Option A

Explanation:
SP = 1.125 CP => CP = 450/1.125 = 400.

This question belongs to: Maths Profit And Loss

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