If a person sells an item for Rs. 420, he loses 16%. What is the cost price? MCQ with Answer and Explanation

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If a person sells an item for Rs. 420, he loses 16%. What is the cost price?

A. Rs. 520

B. Rs. 480

C. Rs. 450

D. Rs. 500

Answer: Option D

Solution (By JKSSB Mock Tests)

SP = 84% of CP => CP = 420 / 0.84 = 500.

This question belongs to: Maths Profit And Loss

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Question #1

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A merchant earns a 25% profit on the selling price of an article. What is his true profit percentage on the cost price?

A. 20%

B. 33.33%

C. 30%

D. 40%

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Correct Answer: Option B

Explanation:
Let Selling Price = 100. Profit = 25. Cost Price = 100 - 25 = 75. True profit percentage = (25 / 75) * 100 = 33.33%.

This question belongs to: Maths Profit And Loss

Question #2

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A trader sells an article at a 15% profit. If he buys it at 10% less and sells it for Rs. 4 less, he still makes a 25% profit. Find the original cost price.

A. Rs. 150

B. Rs. 200

C. Rs. 180

D. Rs. 160

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Correct Answer: Option D

Explanation:
Let initial Cost Price = 100x. Initial Selling Price = 115x. New Cost Price = 90x. New Selling Price = 90x * 1.25 = 112.5x. Difference = 115x - 112.5x = 2.5x. 2.5x = 4. x = 1.6. Cost Price = 100 * 1.6 = 160.

This question belongs to: Maths Profit And Loss