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. 820

B. Rs. 840

C. Rs. 800

D. Rs. 780

Answer: Option C

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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A shopkeeper sells a radio for Rs. 660, gaining 10%. Find the cost price.

A. Rs. 640

B. Rs. 580

C. Rs. 620

D. Rs. 600

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Correct Answer: Option D

Explanation:
CP = 660/1.1 = 600.

This question belongs to: Maths Profit And Loss

Question #2

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A dishonest dealer professes to sell his goods at cost price, but uses a false weight of 900 grams for a kilogram. What is his profit percentage?

A. 11.11%

B. 10%

C. 9.09%

D. 12.5%

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Correct Answer: Option A

Explanation:
The dealer saves 100 grams on every 900 grams given to the customer. Profit Percentage = (Error / True Value - Error) * 100 = (100 / 900) * 100 = 11.11%.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper buys a product for Rs. 450 and sells it at a loss of 8%. What is the selling price?

A. Rs. 430

B. Rs. 420

C. Rs. 414

D. Rs. 400

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Correct Answer: Option C

Explanation:
Loss = 8% of 450 = 36, SP = 450 - 36 = 414.

This question belongs to: Maths Profit And Loss

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