A shopkeeper sells a chair for Rs. 540, gaining 12.5%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a chair for Rs. 540, gaining 12.5%. Find the cost price.

A. Rs. 460

B. Rs. 500

C. Rs. 480

D. Rs. 520

Answer: Option C

Solution (By JKSSB Mock Tests)

CP = 540 / 1.125 = 480.

This question belongs to: Maths Profit And Loss

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Question #1

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If the selling price of 10 articles is equal to the cost price of 11 articles, find the gain percent.

A. 12%

B. 9%

C. 10%

D. 11%

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Correct Answer: Option C

Explanation:
Let CP of 1 = 1, CP of 11 = 11, SP of 10 = 11 => SP of 1 = 1.1, gain = 10%.

This question belongs to: Maths Profit And Loss

Question #2

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A trader allows a discount of 20% on the marked price and still gains 15%. If the cost price is Rs. 600, find the marked price.

A. Rs. 862.5

B. Rs. 850

C. Rs. 875

D. Rs. 900

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Correct Answer: Option A

Explanation:
SP = 600*1.15 = 690. MP = 690 / 0.8 = 862.5.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper sells a chair for Rs. 800, gaining 25%. Find the cost price.

A. Rs. 640

B. Rs. 620

C. Rs. 660

D. Rs. 680

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Correct Answer: Option A

Explanation:
CP = 800/1.25 = 640.

This question belongs to: Maths Profit And Loss

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