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. 880

B. Rs. 950

C. Rs. 900

D. Rs. 920

Answer: Option C

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 selling price of an article is Rs. 210 and the loss is 16.67%, find the cost price.

A. Rs. 260

B. Rs. 250

C. Rs. 240

D. Rs. 252

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Correct Answer: Option D

Explanation:
SP = 83.33% of CP => CP = 210 / 0.8333 ≈ 252.

This question belongs to: Maths Profit And Loss

Question #2

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An article is sold at Rs. X. If it is sold at 54.54% of X, there is a loss of 20%. What is the profit percentage when it is sold at Rs. X?

A. 50%

B. 42.5%

C. 46.66%

D. 45%

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Correct Answer: Option C

Explanation:
54.54% = 6/11. Selling at (6/11) * X results in 20% loss, meaning Selling Price = 0.80 * Cost Price. (6/11) * X = 0.80 * Cost Price. X = (0.80 * 11 / 6) * Cost Price = (8.8 / 6) * Cost Price = (88 / 60) * Cost Price = (22 / 15) * Cost Price. Profit = (22 / 15) - 1 = 7 / 15. Profit percentage = (7 / 15) * 100 = 46.66%.

This question belongs to: Maths Profit And Loss