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. 680

B. Rs. 560

C. Rs. 600

D. Rs. 640

Answer: Option C

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 person buys 100 items at Rs. 50 each and sells them at Rs. 60 each. What is the profit percentage?

A. 15%

B. 25%

C. 30%

D. 20%

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Correct Answer: Option D

Explanation:
CP = 5000, SP = 6000, profit = 1000, profit% = 1000/5000*100=20%.

This question belongs to: Maths Profit And Loss

Question #2

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A dealer gives a discount of 20% on an article and still gains 10%. If the cost price is Rs. 600, find the marked price.

A. Rs. 825

B. Rs. 800

C. Rs. 850

D. Rs. 900

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Correct Answer: Option A

Explanation:
SP = 600*1.1 = 660. MP = 660 / 0.8 = 825.

This question belongs to: Maths Profit And Loss

Question #3

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A person sells an article at a loss of 18%. If the selling price is Rs. 410, find the cost price.

A. Rs. 480

B. Rs. 460

C. Rs. 520

D. Rs. 500

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Correct Answer: Option D

This question belongs to: Maths Profit And Loss

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