An item is sold for Rs. 720 at a loss of 10%. What was the cost price of the item? MCQ with Answer and Explanation

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An item is sold for Rs. 720 at a loss of 10%. What was the cost price of the item?

A. Rs. 850

B. Rs. 750

C. Rs. 800

D. Rs. 810

Answer: Option C

Solution (By JKSSB Mock Tests)

Selling Price is 90% of the Cost Price due to a 10% loss. So, 0.90 * CP = 720. CP = 720 / 0.90 = Rs. 800.

This question belongs to: Maths Profit And Loss

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Question #1

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A trader marks his goods 40% above cost and gives a discount of 15%. What is his profit percent?

A. 19%

B. 15%

C. 20%

D. 18%

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Correct Answer: Option A

Explanation:
Let CP = 100, MP = 140, SP = 140*0.85 = 119, profit = 19%.

This question belongs to: Maths Profit And Loss

Question #2

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A man sells an item for Rs. 570, gaining 14%. Find the cost price.

A. Rs. 480

B. Rs. 540

C. Rs. 500

D. Rs. 520

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Correct Answer: Option C

Explanation:
CP = 570 / 1.14 = 500.

This question belongs to: Maths Profit And Loss

Question #3

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A person buys a book for Rs. 80 and sells it for Rs. 96. What is the gain percentage?

A. 20%

B. 25%

C. 15%

D. 18%

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Correct Answer: Option A

Explanation:
Gain = 16, gain% = 16/80*100=20%.

This question belongs to: Maths Profit And Loss

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