A shopkeeper sells a product for Rs. 770, gaining 10%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a product for Rs. 770, gaining 10%. Find the cost price.

A. Rs. 680

B. Rs. 750

C. Rs. 720

D. Rs. 700

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 770 / 1.10 = 700.

This question belongs to: Maths Profit And Loss

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Question #1

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A man bought 2 articles for Rs. 1200 each. He sold one at a 20% loss and the other at a 20% profit. What is his overall profit or loss percentage?

A. 8% Loss

B. No Profit No Loss

C. 4% Profit

D. 4% Loss

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Correct Answer: Option B

Explanation:
When CP is the same for two articles, and one is sold at x% profit and the other at x% loss, the overall result is No Profit No Loss.

This question belongs to: Maths Profit And Loss

Question #2

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A person buys a book for Rs. 80 and sells it for Rs. 96. What is the gain percentage?

A. 20%

B. 18%

C. 25%

D. 15%

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Correct Answer: Option A

Explanation:
Gain = 16, gain% = 16/80*100=20%.

This question belongs to: Maths Profit And Loss

Question #3

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If the selling price of 12 articles is equal to the cost price of 15 articles, find the profit percent.

A. 25%

B. 15%

C. 30%

D. 20%

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Correct Answer: Option A

Explanation:
Let CP of 1 = 1. CP of 15 = 15, SP of 12 = 15 => SP of 1 = 15/12 = 1.25, profit = 25%.

This question belongs to: Maths Profit And Loss

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