A shopkeeper sells an item for Rs. 450, gaining 12.5%. Find the cost price. MCQ with Answer and Explanation

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A shopkeeper sells an item for Rs. 450, gaining 12.5%. Find the cost price.

A. Rs. 380

B. Rs. 400

C. Rs. 410

D. Rs. 420

Answer: Option B

Solution (By JKSSB Mock Tests)

CP = 450/1.125 = 400.

This question belongs to: Maths Profit And Loss

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Question #1

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An article is sold for Rs. 1020, resulting in a 20% loss. Find the cost price.

A. Rs. 1200

B. Rs. 1250

C. Rs. 1275

D. Rs. 1300

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Correct Answer: Option C

Explanation:
80% of CP = 1020. CP = 1020 / 0.8 = Rs. 1275.

This question belongs to: Maths Profit And Loss

Question #2

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If the cost price of an article is Rs. 300 and it is sold at a loss of 5%, what is the selling price?

A. Rs. 280

B. Rs. 290

C. Rs. 285

D. Rs. 295

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Correct Answer: Option C

Explanation:
Loss = 5% of 300 = 15, SP = 300-15=285.

This question belongs to: Maths Profit And Loss

Question #3

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A man sells an article at a 10% profit. If he had bought it at 20% less and sold it for Rs. 20 more, his profit would have been 40%. Find the initial cost price.

A. Rs. 1000

B. Rs. 900

C. Rs. 1200

D. Rs. 800

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Correct Answer: Option A

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 110x. New Cost Price = 80x. New Selling Price = 80x * 1.40 = 112x. Difference = 112x - 110x = 2x. 2x = 20. x = 10. Initial Cost Price = 100 * 10 = 1000.

This question belongs to: Maths Profit And Loss

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