A shopkeeper sells a fan for Rs. 800, losing 20%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a fan for Rs. 800, losing 20%. Find the cost price.

A. Rs. 1050

B. Rs. 950

C. Rs. 1000

D. Rs. 900

Answer: Option C

Solution (By JKSSB Mock Tests)

SP = 80% of CP => CP = 800 / 0.8 = 1000.

This question belongs to: Maths Profit And Loss

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Question #1

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If the cost price of 9 articles is equal to the selling price of 11 articles, find the loss percent.

A. 20%

B. 15%

C. 12%

D. 18.18%

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Correct Answer: Option D

Explanation:
Let CP of 1 = 1, CP of 9 = 9, SP of 11 = 9 => SP of 1 = 9/11 = 0.818, loss = (1-0.818)*100 = 18.18%.

This question belongs to: Maths Profit And Loss

Question #2

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By selling 20 meters of wire, a man gains the cost price of 4 meters. Find his profit percentage.

A. 15%

B. 30%

C. 25%

D. 20%

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Correct Answer: Option D

Explanation:
Let CP of 1 meter = 1. CP of 20 meters = 20. Profit = CP of 4 meters = 4. Profit % = (4/20) * 100 = 20%.

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Question #3

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An item is sold at Rs. 360, earning a profit of 20%. What would be the selling price if it is sold at a loss of 20%?

A. Rs. 280

B. Rs. 250

C. Rs. 260

D. Rs. 240

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Correct Answer: Option D

Explanation:
SP1 = 1.2 CP => CP = 360/1.2 = 300. Loss 20% => SP = 300*0.8 = 240.

This question belongs to: Maths Profit And Loss

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