A trader sells an article for Rs. 540, gaining 8%. Find the cost price. MCQ with Answer and Explanation

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A trader sells an article for Rs. 540, gaining 8%. Find the cost price.

A. Rs. 500

B. Rs. 510

C. Rs. 480

D. Rs. 520

Answer: Option A

Solution (By JKSSB Mock Tests)

CP = 540/1.08 = 500.

This question belongs to: Maths Profit And Loss

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Question #1

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By selling a bicycle for Rs. 2850, a shopkeeper gains 14%. If the profit is reduced to 8%, what is the new selling price?

A. Rs. 2750

B. Rs. 2600

C. Rs. 2800

D. Rs. 2700

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Correct Answer: Option D

Explanation:
Cost Price = (2850 / 114) * 100 = Rs. 2500. New Selling Price at 8% profit = 2500 * 1.08 = Rs. 2700.

This question belongs to: Maths Profit And Loss

Question #2

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A shopkeeper marks his goods 20% above cost and gives a discount of 15%. What is his profit percent?

A. 2%

B. 8%

C. 5%

D. 10%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 120, SP = 120*0.85 = 102, profit = 2%.

This question belongs to: Maths Profit And Loss

Question #3

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A shopkeeper buys 200 pens at Rs. 12 each and sells 150 pens at Rs. 15 each and the remaining at Rs. 10 each. What is his profit or loss percentage?

A. No profit no loss

B. Profit 6.25%

C. Profit 10%

D. Loss 6.25%

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Correct Answer: Option B

This question belongs to: Maths Profit And Loss

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