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. 600

B. Rs. 580

C. Rs. 560

D. Rs. 620

Answer: Option A

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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If the cost price of an article is Rs. 480 and the selling price is Rs. 600, what is the profit percentage?

A. 15%

B. 30%

C. 25%

D. 20%

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Correct Answer: Option C

Explanation:
Profit = 120, profit% = 120/480*100 = 25%.

This question belongs to: Maths Profit And Loss

Question #2

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A person sells a watch for Rs. 900, gaining 12.5%. Find the cost price.

A. Rs. 820

B. Rs. 840

C. Rs. 780

D. Rs. 800

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Correct Answer: Option D

Explanation:
CP = 900 / 1.125 = 800.

This question belongs to: Maths Profit And Loss

Question #3

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A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells them at 9 for Rs. 20. What is his profit or loss percentage?

A. No profit no loss

B. 1% Loss

C. 1.23% Loss

D. 1.5% Loss

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Correct Answer: Option C

Explanation:
Let he buy 20 of each (LCM of 5 and 4). CP1 = (10/5)*20 = 40. CP2 = (10/4)*20 = 50. Total CP = 90 for 40 oranges. SP of 40 oranges = (20/9) * 40 = 800/9 = 88.88. Loss = 90 - 88.88 = 1.11. Loss % = (1.11 / 90) * 100 = 1.23%.

This question belongs to: Maths Profit And Loss

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