An article is sold for Rs. 1020, resulting in a 20% loss. Find the cost price. MCQ with Answer and Explanation

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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. 1275

C. Rs. 1300

D. Rs. 1250

Answer: Option B

Solution (By JKSSB Mock Tests)

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

This question belongs to: Maths Profit And Loss

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Question #1

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A shopkeeper buys 50 kg of rice at Rs. 40 per kg and sells at Rs. 48 per kg. What is his profit percentage?

A. 20%

B. 25%

C. 15%

D. 10%

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Correct Answer: Option A

Explanation:
CP = 50*40 = 2000, SP = 50*48 = 2400, profit = 400, profit% = 400/2000*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #2

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If the cost price of 10 articles is equal to the selling price of 12 articles, find the loss percent.

A. 15%

B. 16.67%

C. 20%

D. 10%

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Correct Answer: Option B

Explanation:
Let CP of 1 = 1, CP of 10 = 10, SP of 12 = 10 => SP of 1 = 10/12 = 0.833, loss = 16.67%.

This question belongs to: Maths Profit And Loss

Question #3

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A person buys a toy for Rs. 150 and sells it for Rs. 180. What is the profit percentage?

A. 15%

B. 18%

C. 25%

D. 20%

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Correct Answer: Option D

Explanation:
Profit = 30, profit% = 30/150*100 = 20%.

This question belongs to: Maths Profit And Loss

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