A shopkeeper sells a mobile for Rs. 8000, losing 20%. Find the cost price. MCQ with Answer and Explanation

Question
A shopkeeper sells a mobile for Rs. 8000, losing 20%. Find the cost price.
A. Rs. 10400
B. Rs. 10000
C. Rs. 9600
D. Rs. 9000
Answer: Option B
Solution (By JKSSB Mock Tests)
The correct answer is Option B. Detailed explanation will be updated soon.
This question belongs to: Maths Profit And Loss
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Question #1
Two articles are sold for Rs. 4800 each. On one, the seller gains 20% and on the other, he loses 20%. What is his overall gain or loss percentage?
A. No Gain No Loss
B. 4% Gain
C. 4% Loss
D. 8% Loss
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Correct Answer: Option C

Explanation:
When two articles are sold at the same price, and one is sold at a gain of x% and the other at a loss of x%, there is always an overall loss. Loss percentage = (x^2) / 100 = (20^2) / 100 = 400 / 100 = 4% Loss.
This question belongs to: Maths Profit And Loss
Question #2
A trader gives a discount of 20% on the marked price and still gains 20%. If the marked price is Rs. 1500, what is the cost price?
A. Rs. 1200
B. Rs. 1100
C. Rs. 1000
D. Rs. 900
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Correct Answer: Option C

Explanation:
SP = 1500*0.8 = 1200. CP = 1200/1.2 = 1000.
This question belongs to: Maths Profit And Loss
Question #3
A shopkeeper allows a 20% discount on the marked price and still makes a 20% profit. What is the ratio of the marked price to the cost price?
A. 3:2
B. 2:1
C. 4:3
D. 5:4
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Correct Answer: Option A

Explanation:
Marked Price * 0.80 = Cost Price * 1.20. Marked Price / Cost Price = 1.20 / 0.80 = 1.5 = 3/2. Ratio is 3:2.
This question belongs to: Maths Profit And Loss
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