A shopkeeper sells a chair for Rs. 540, gaining 8%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a chair for Rs. 540, gaining 8%. Find the cost price.

A. Rs. 500

B. Rs. 520

C. Rs. 480

D. Rs. 540

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 540 / 1.08 = 500.

This question belongs to: Maths Profit And Loss

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Question #1

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An article is sold at a profit of 20%. If the cost price is Rs. 250, what is the selling price?

A. Rs. 280

B. Rs. 270

C. Rs. 320

D. Rs. 300

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Correct Answer: Option D

Explanation:
Selling price = Cost price + Profit = 250 + 20% of 250 = 250 + 50 = Rs. 300.

This question belongs to: Maths Profit And Loss

Question #2

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A trader allows a discount of 25% on the marked price and still gains 25%. If the cost price is Rs. 600, find the marked price.

A. Rs. 950

B. Rs. 1050

C. Rs. 1000

D. Rs. 900

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Correct Answer: Option C

Explanation:
SP = 600*1.25 = 750. MP = 750 / 0.75 = 1000.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper marks his goods 30% above cost price and allows a discount of 10%. What is his profit percentage?

A. 17%

B. 18%

C. 20%

D. 15%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 130, SP = 130*0.9 = 117, Profit = 17%.

This question belongs to: Maths Profit And Loss

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