A shopkeeper sells a shirt for Rs. 720, losing 10%. What is the cost price? MCQ with Answer and Explanation

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A shopkeeper sells a shirt for Rs. 720, losing 10%. What is the cost price?

A. Rs. 800

B. Rs. 820

C. Rs. 780

D. Rs. 850

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 720/0.9 = 800.

This question belongs to: Maths Profit And Loss

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Question #1

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A man sells an article at a profit of 30%. If the cost price is Rs. 500, what is the selling price?

A. Rs. 550

B. Rs. 700

C. Rs. 600

D. Rs. 650

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Correct Answer: Option D

Explanation:
SP = 500*1.3 = 650.

This question belongs to: Maths Profit And Loss

Question #2

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A trader buys an article for Rs. 1200 and marks it 25% above cost. He gives a discount of 10%. Find his profit percent.

A. 14%

B. 10%

C. 15%

D. 12.5%

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Correct Answer: Option D

Explanation:
MP = 1200*1.25 = 1500. SP = 1500*0.9 = 1350. Profit = 150, profit% = (150/1200)*100 = 12.5%.

This question belongs to: Maths Profit And Loss

Question #3

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A dealer sells an article at a loss of 4%. Had he sold it for Rs. 120 more, he would have gained 8%. What is the cost price of the article?

A. Rs. 900

B. Rs. 800

C. Rs. 1200

D. Rs. 1000

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Correct Answer: Option D

Explanation:
The difference between an 8% gain and a 4% loss is 12% of the cost price. So, 12% of CP = 120. CP = (120 * 100) / 12 = Rs. 1000.

This question belongs to: Maths Profit And Loss

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