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. 700

C. Rs. 750

D. Rs. 720

Answer: Option B

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 shopkeeper incurs a 10% loss by selling an item for Rs. 1800. At what price should he sell the item to earn a 10% profit?

A. Rs. 2000

B. Rs. 2200

C. Rs. 2400

D. Rs. 2100

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Correct Answer: Option B

Explanation:
Cost price = Selling price / 0.90 = 1800 / 0.90 = Rs. 2000. Desired Selling price = 110% of Cost price = 1.10 * 2000 = Rs. 2200.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper marks an article at Rs. 900 and sells it at a discount of 10%. What is the selling price?

A. Rs. 800

B. Rs. 810

C. Rs. 790

D. Rs. 820

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Correct Answer: Option B

Explanation:
SP = 900*0.9 = 810.

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Question #3

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A man buys an article for Rs. 200 and sells it for Rs. 240. What is the gain percent?

A. 25%

B. 15%

C. 20%

D. 18%

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Correct Answer: Option C

Explanation:
Gain = 40, gain% = (40/200)*100 = 20%.

This question belongs to: Maths Profit And Loss

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