A shopkeeper sells a shirt for Rs. 720, gaining 20%. What is the cost price? MCQ with Answer and Explanation

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A shopkeeper sells a shirt for Rs. 720, gaining 20%. What is the cost price?

A. Rs. 640

B. Rs. 600

C. Rs. 680

D. Rs. 560

Answer: Option B

Solution (By JKSSB Mock Tests)

CP = 720 / 1.20 = 600.

This question belongs to: Maths Profit And Loss

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Question #1

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A trader buys a product for Rs. 750 and sells it for Rs. 900. What is the profit percentage?

A. 25%

B. 30%

C. 20%

D. 15%

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Correct Answer: Option C

Explanation:
Profit = 150, profit% = 150/750*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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A person buys a book for Rs. 300 and sells it for Rs. 240. What is the loss percentage?

A. 20%

B. 15%

C. 10%

D. 25%

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Correct Answer: Option A

Explanation:
Loss = 60, loss% = 60/300*100=20%.

This question belongs to: Maths Profit And Loss

Question #3

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A merchant marks his goods up by 50% and offers a discount of 20%. In addition, he gives 1 article free with every 4 articles bought. What is his net profit percentage?

A. 5% profit

B. 4% loss

C. 4% profit

D. No profit no loss

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Correct Answer: Option B

Explanation:
Let Cost Price of 1 article = 100. Cost Price of 5 articles = 500. Marked Price of 1 article = 150. Customer takes 5 articles but pays for 4. Selling Price of 4 articles = 4 * 150 * 0.80 = 480. Net Selling Price = 480. Net Cost Price = 500. Loss = 20. Loss percentage = (20 / 500) * 100 = 4%.

This question belongs to: Maths Profit And Loss

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