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

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

A. Rs. 620

B. Rs. 600

C. Rs. 580

D. Rs. 640

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

A man sells a watch for Rs. 650, gaining 30%. Find the cost price.

A. Rs. 520

B. Rs. 550

C. Rs. 500

D. Rs. 480

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Correct Answer: Option C

Explanation:
CP = 650 / 1.30 = 500.

This question belongs to: Maths Profit And Loss

Question #2

A shopkeeper gives 1 article free on the purchase of every 4 articles. He also allows an additional discount of 20%. Find his total net discount percentage.

A. 36%

B. 45%

C. 44%

D. 40%

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Correct Answer: Option A

Explanation:
Customer gets 5 articles but pays for 4. Discount from free item = (1/5) * 100 = 20%. Two successive discounts of 20% and 20%. Equivalent discount = 20 + 20 - (400/100) = 36%.

This question belongs to: Maths Profit And Loss

Question #3

If the marked price of an article is Rs. 800 and it is sold at a discount of 15%, what is the selling price?

A. Rs. 760

B. Rs. 720

C. Rs. 680

D. Rs. 640

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Correct Answer: Option C

Explanation:
SP = 800 * (1 - 0.15) = 800 * 0.85 = 680.

This question belongs to: Maths Profit And Loss

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