A shopkeeper sells a book for Rs. 300, gaining 20%. Find the cost price. MCQ with Answer and Explanation

Question
A shopkeeper sells a book for Rs. 300, gaining 20%. Find the cost price.
A. Rs. 270
B. Rs. 250
C. Rs. 240
D. Rs. 260
Answer: Option B
Solution (By JKSSB Mock Tests)
CP = 300/1.2 = 250.
This question belongs to: Maths Profit And Loss
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Question #1
A shopkeeper sells a shirt for Rs. 720, losing 10%. What is the cost price?
A. Rs. 780
B. Rs. 850
C. Rs. 800
D. Rs. 820
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Correct Answer: Option C

Explanation:
CP = 720/0.9 = 800.
This question belongs to: Maths Profit And Loss
Question #2
An article was sold at a 10% profit. Had it been sold for Rs. 60 more, the profit would have been 15%. Find the cost price of the article.
A. Rs. 1500
B. Rs. 1200
C. Rs. 1000
D. Rs. 1100
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Correct Answer: Option B

Explanation:
The difference in profit percentage is 15% - 10% = 5%. 5% of the Cost Price equals Rs. 60. Cost Price = (60 / 5) * 100 = Rs. 1200.
This question belongs to: Maths Profit And Loss
Question #3
A man sold two items for Rs. 10000 each. On the first item, he gained 25%. On the second item, he lost 20%. Find his total profit or loss amount in Rupees.
A. Profit Rs. 500
B. Loss Rs. 1000
C. Loss Rs. 500
D. Profit Rs. 1000
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Correct Answer: Option C

Explanation:
SP1 = 10000, Profit = 25%, CP1 = 10000 / 1.25 = 8000. SP2 = 10000, Loss = 20%, CP2 = 10000 / 0.80 = 12500. Total CP = 8000 + 12500 = 20500. Total SP = 10000 + 10000 = 20000. Total Loss = Total CP - Total SP = 20500 - 20000 = Rs. 500.
This question belongs to: Maths Profit And Loss
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