A shopkeeper sells a fan for Rs. 1200, gaining 20%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a fan for Rs. 1200, gaining 20%. Find the cost price.

A. Rs. 1000

B. Rs. 980

C. Rs. 1100

D. Rs. 1050

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 1200/1.2 = 1000.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of an article is Rs. 400 and the selling price is Rs. 480, what is the profit percentage?

A. 25%

B. 30%

C. 15%

D. 20%

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Correct Answer: Option D

Explanation:
Profit = 80, profit% = 80/400*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper marks his goods at 20% above the cost price and allows a discount of 10%. What is his net profit percentage?

A. 12%

B. 8%

C. 10%

D. 15%

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Correct Answer: Option B

Explanation:
Let Cost Price = 100. Marked Price = 120. Selling Price after 10% discount = 120 * 0.90 = 108. Profit = 108 - 100 = 8. Net profit percentage = 8%.

This question belongs to: Maths Profit And Loss

Question #3

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A dealer marks his goods 40% above the cost price. He sells 50% of the goods at the marked price, 25% at a 20% discount on the marked price, and the rest at a 40% discount on the marked price. What is his overall profit percentage?

A. 15%

B. 21%

C. 19%

D. 18%

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Correct Answer: Option C

Explanation:
Let 100 items cost 10000. Marked Price = 140. 50 items sold at 140 = 7000. 25 items sold at 112 (140 * 0.8) = 2800. 25 items sold at 84 (140 * 0.6) = 2100. Total Selling Price = 7000 + 2800 + 2100 = 11900. Total Cost Price = 10000. Profit = 1900. Profit percentage = 19%.

This question belongs to: Maths Profit And Loss

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