A shopkeeper sells a chair for Rs. 450, gaining 12.5%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a chair for Rs. 450, gaining 12.5%. Find the cost price.

A. Rs. 400

B. Rs. 410

C. Rs. 420

D. Rs. 380

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 450 / 1.125 = 400.

This question belongs to: Maths Profit And Loss

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Question #1

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By selling 45 lemons for Rs. 40, a man loses 20%. How many should he sell for Rs. 24 to gain 20%?

A. 18

B. 16

C. 22

D. 20

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Correct Answer: Option A

Explanation:
Selling Price of 45 lemons = 40. Cost Price of 45 lemons = 40 / 0.80 = 50. Desired Selling Price for 45 lemons for 20% profit = 50 * 1.20 = 60. To get Rs. 60, he sells 45 lemons. To get Rs. 24, he must sell (45 / 60) * 24 = 18 lemons.

This question belongs to: Maths Profit And Loss

Question #2

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A book was sold at a 12% profit. If it had been bought at 10% less and sold for Rs. 5.75 more, the profit would have been 30%. Find the cost price.

A. Rs. 125

B. Rs. 115

C. Rs. 150

D. Rs. 120

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Correct Answer: Option B

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 112x. New Cost Price = 90x. New Selling Price = 90x * 1.30 = 117x. Difference in Selling Price = 117x - 112x = 5x. 5x = 5.75. x = 1.15. Cost Price = 100 * 1.15 = 115.

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Question #3

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If the selling price of an article is Rs. 130 and the loss is 35%, find the cost price.

A. Rs. 220

B. Rs. 200

C. Rs. 190

D. Rs. 180

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Correct Answer: Option B

This question belongs to: Maths Profit And Loss

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