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. 620

B. Rs. 640

C. Rs. 580

D. Rs. 600

Answer: Option D

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 dealer marks his goods 50% above cost and gives a discount of 20%. What is his profit percent?

A. 25%

B. 20%

C. 30%

D. 15%

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Correct Answer: Option B

Explanation:
Let CP = 100, MP = 150, SP = 150*0.8 = 120, profit = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A trader marks his goods 40% above cost and gives a discount of 20%. What is his profit percent?

A. 15%

B. 10%

C. 12%

D. 8%

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Correct Answer: Option C

Explanation:
Let CP = 100, MP = 140, SP = 140*0.8 = 112, profit = 12%.

This question belongs to: Maths Profit And Loss

Question #3

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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. 25%

B. 15%

C. 20%

D. 30%

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Correct Answer: Option C

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

This question belongs to: Maths Profit And Loss

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