A shopkeeper sells a product for Rs. 1080, gaining 20%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a product for Rs. 1080, gaining 20%. Find the cost price.

A. Rs. 900

B. Rs. 920

C. Rs. 950

D. Rs. 880

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 1080 / 1.20 = 900.

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. 600 and the selling price is Rs. 720, what is the profit percentage?

A. 30%

B. 15%

C. 20%

D. 25%

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Correct Answer: Option C

Explanation:
Profit = 120, profit% = 120/600*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A person buys 10 oranges for Rs. 20 and sells 8 oranges for Rs. 20. What is the profit or loss percentage?

A. Profit 25%

B. No profit no loss

C. Profit 20%

D. Loss 25%

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Correct Answer: Option A

Explanation:
CP per orange = 20/10 = 2. SP per orange = 20/8 = 2.5. Profit = 0.5, profit% = (0.5/2)*100 = 25%.

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Question #3

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A man buys oranges at 5 for Rs. 10 and an equal number at 4 for Rs. 10. He mixes them and sells them at 9 for Rs. 20. What is his profit or loss percentage?

A. 1% Loss

B. 1.5% Loss

C. No profit no loss

D. 1.23% Loss

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Correct Answer: Option D

Explanation:
Let he buy 20 of each (LCM of 5 and 4). CP1 = (10/5)*20 = 40. CP2 = (10/4)*20 = 50. Total CP = 90 for 40 oranges. SP of 40 oranges = (20/9) * 40 = 800/9 = 88.88. Loss = 90 - 88.88 = 1.11. Loss % = (1.11 / 90) * 100 = 1.23%.

This question belongs to: Maths Profit And Loss

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