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. 780

C. Rs. 840

D. Rs. 820

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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An article is sold at Rs. 720, incurring a loss of 10%. What is the cost price?

A. Rs. 780

B. Rs. 820

C. Rs. 850

D. Rs. 800

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Correct Answer: Option D

Explanation:
CP = 720 / 0.9 = 800.

This question belongs to: Maths Profit And Loss

Question #2

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By selling 36 oranges, a vendor suffers a loss equal to the selling price of 4 oranges. Find his loss percentage.

A. 11.11%

B. 12.5%

C. 9.09%

D. 10%

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Correct Answer: Option D

Explanation:
Loss = Cost Price of 36 - Selling Price of 36. Loss = Selling Price of 4. Selling Price of 4 = Cost Price of 36 - Selling Price of 36. 40 * Selling Price = 36 * Cost Price. Selling Price / Cost Price = 36 / 40 = 9 / 10. Loss percentage = 10%.

This question belongs to: Maths Profit And Loss