A shopkeeper sells a product for Rs. 960, gaining 20%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells a product for Rs. 960, gaining 20%. Find the cost price.

A. Rs. 800

B. Rs. 820

C. Rs. 840

D. Rs. 780

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 960 / 1.20 = 800.

This question belongs to: Maths Profit And Loss

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Question #1

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If the selling price of an article is Rs. 315 and the loss is 10%, find the cost price.

A. Rs. 340

B. Rs. 360

C. Rs. 350

D. Rs. 330

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Correct Answer: Option C

Explanation:
SP = 90% of CP => CP = 315 / 0.9 = 350.

This question belongs to: Maths Profit And Loss

Question #2

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An item is sold at Rs. 360, earning a profit of 20%. What would be the selling price if it is sold at a loss of 20%?

A. Rs. 260

B. Rs. 240

C. Rs. 250

D. Rs. 280

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Correct Answer: Option B

Explanation:
SP1 = 1.2 CP => CP = 360/1.2 = 300. Loss 20% => SP = 300*0.8 = 240.

This question belongs to: Maths Profit And Loss

Question #3

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If the cost price of an article is Rs. 390 and the selling price is Rs. 468, what is the profit percentage?

A. 20%

B. 18%

C. 15%

D. 25%

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Correct Answer: Option A

Explanation:
Profit = 78, profit% = 78/390*100 = 20%.

This question belongs to: Maths Profit And Loss

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