An item is sold for Rs. 240 at a 20% loss. At what price should it be sold to gain 20%? MCQ with Answer and Explanation

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An item is sold for Rs. 240 at a 20% loss. At what price should it be sold to gain 20%?

A. Rs. 360

B. Rs. 300

C. Rs. 320

D. Rs. 340

Answer: Option A

Solution (By JKSSB Mock Tests)

Cost Price = 240 / 0.80 = 300. New Selling Price for 20% profit = 300 * 1.20 = 360.

This question belongs to: Maths Profit And Loss

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Question #1

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A man buys an article at a 20% discount on its marked price and sells it at its marked price. What is his profit percentage?

A. 25%

B. 33.33%

C. 20%

D. 30%

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Correct Answer: Option A

Explanation:
Let Marked Price = 100. Cost Price = 80. Selling Price = 100. Profit = 20. Profit percentage = (20 / 80) * 100 = 25%.

This question belongs to: Maths Profit And Loss

Question #2

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A table is sold for Rs. 450 at a loss of 10%. What is the cost price of the table?

A. Rs. 520

B. Rs. 490

C. Rs. 500

D. Rs. 480

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Correct Answer: Option C

Explanation:
Selling Price = 450. Loss = 10%. Cost Price = 450 / 0.90 = 500.

This question belongs to: Maths Profit And Loss

Question #3

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A trader allows a discount of 15% on the marked price and still gains 10%. If the cost price is Rs. 400, find the marked price.

A. Rs. 500

B. Rs. 510

C. Rs. 517.65

D. Rs. 530

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Correct Answer: Option C

Explanation:
SP = 400*1.1 = 440. MP = 440 / 0.85 = 517.65.

This question belongs to: Maths Profit And Loss

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