A shopkeeper sells a product for Rs. 648, gaining 8%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a product for Rs. 648, gaining 8%. Find the cost price.

A. Rs. 580

B. Rs. 620

C. Rs. 640

D. Rs. 600

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 648 / 1.08 = 600.

This question belongs to: Maths Profit And Loss

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Question #1

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If goods are purchased for Rs. 450 and one-third is sold at a loss of 10%, at what profit percentage should the remainder be sold to gain 20% on the whole transaction?

A. 40%

B. 30%

C. 32%

D. 35%

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Correct Answer: Option D

Explanation:
Total cost = 450. Total desired SP = 450 * 1.2 = 540. CP of one-third = 150. SP of one-third at 10% loss = 150 * 0.9 = 135. Required SP for remainder = 540 - 135 = 405. CP of remainder = 300. Profit required = 405 - 300 = 105. Profit % = (105 / 300) * 100 = 35%.

This question belongs to: Maths Profit And Loss