A shopkeeper sells a fan for Rs. 630, gaining 5%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a fan for Rs. 630, gaining 5%. Find the cost price.

A. Rs. 640

B. Rs. 580

C. Rs. 620

D. Rs. 600

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 630 / 1.05 = 600.

This question belongs to: Maths Profit And Loss

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Question #1

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A trader marks his goods 20% above cost and gives a discount of 10%. What is his profit percent?

A. 10%

B. 8%

C. 15%

D. 12%

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Correct Answer: Option B

Explanation:
CP=100, MP=120, SP=120*0.9=108, profit=8%.

This question belongs to: Maths Profit And Loss

Question #2

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A man sold 250 chairs and had a gain equal to the selling price of 50 chairs. His profit percentage is:

A. 20%

B. 25%

C. 33.33%

D. 30%

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Correct Answer: Option B

Explanation:
Gain = Selling Price of 50. Gain = Selling Price of 250 - Cost Price of 250. Selling Price of 50 = Selling Price of 250 - Cost Price of 250. Cost Price of 250 = Selling Price of 200. Cost Price / Selling Price = 200 / 250 = 4 / 5. Profit = 1 unit on CP 4. Profit percentage = (1 / 4) * 100 = 25%.

This question belongs to: Maths Profit And Loss