A shopkeeper sells a chair for Rs. 800, gaining 25%. Find the cost price. MCQ with Answer and Explanation

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

A. Rs. 680

B. Rs. 660

C. Rs. 640

D. Rs. 620

Answer: Option C

Solution (By JKSSB Mock Tests)

CP = 800/1.25 = 640.

This question belongs to: Maths Profit And Loss

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Question #1

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The difference between selling an article at a profit of 8% and a loss of 4% is Rs. 108. Find the cost price.

A. Rs. 900

B. Rs. 850

C. Rs. 950

D. Rs. 800

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Correct Answer: Option A

Explanation:
Difference = 8% - (-4%) = 12% of CP. 12% of CP = 108. CP = 10800 / 12 = Rs. 900.

This question belongs to: Maths Profit And Loss

Question #2

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A merchant marks his goods up by 50% and offers a discount of 20%. In addition, he gives 1 article free with every 4 articles bought. What is his net profit percentage?

A. 4% loss

B. 5% profit

C. No profit no loss

D. 4% profit

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Correct Answer: Option A

Explanation:
Let Cost Price of 1 article = 100. Cost Price of 5 articles = 500. Marked Price of 1 article = 150. Customer takes 5 articles but pays for 4. Selling Price of 4 articles = 4 * 150 * 0.80 = 480. Net Selling Price = 480. Net Cost Price = 500. Loss = 20. Loss percentage = (20 / 500) * 100 = 4%.

This question belongs to: Maths Profit And Loss