A shopkeeper sells a product for Rs. 720, gaining 20%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a product for Rs. 720, gaining 20%. Find the cost price.

A. Rs. 580

B. Rs. 640

C. Rs. 600

D. Rs. 620

Answer: Option C

Solution (By JKSSB Mock Tests)

CP = 720 / 1.20 = 600.

This question belongs to: Maths Profit And Loss

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Question #1

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A shopkeeper sells a TV at Rs. 12000, incurring a loss of 20%. What is the cost price of the TV?

A. Rs. 16000

B. Rs. 15000

C. Rs. 14500

D. Rs. 14000

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Correct Answer: Option B

Explanation:
SP = 80% of CP => CP = 12000/0.8 = 15000.

This question belongs to: Maths Profit And Loss

Question #2

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A man sells an article at a loss of 15%. If the selling price is Rs. 255, find the cost price.

A. Rs. 300

B. Rs. 280

C. Rs. 320

D. Rs. 290

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Correct Answer: Option A

This question belongs to: Maths Profit And Loss

Question #3

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If the selling price of an article is doubled, the profit becomes three times. Find the original profit percent.

A. 75%

B. 50%

C. 100%

D. 66.67%

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Correct Answer: Option B

This question belongs to: Maths Profit And Loss

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