If a shopkeeper sells an item at Rs. 216, he gains 8%. Find the cost price. MCQ with Answer and Explanation

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If a shopkeeper sells an item at Rs. 216, he gains 8%. Find the cost price.

A. Rs. 210

B. Rs. 200

C. Rs. 190

D. Rs. 208

Answer: Option B

Solution (By JKSSB Mock Tests)

CP = 216/1.08 = 200.

This question belongs to: Maths Profit And Loss

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Question #1

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The cost price of 5 pens is equal to the selling price of 4 pens. Find the profit percentage.

A. 20%

B. 25%

C. 33.33%

D. 30%

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Correct Answer: Option B

Explanation:
Let the cost price of 1 pen be CP and selling price of 1 pen be SP. Given 5 * CP = 4 * SP, so SP / CP = 5 / 4. Profit = SP - CP = 5 - 4 = 1 unit. Profit Percentage = (1 / 4) * 100 = 25%.

This question belongs to: Maths Profit And Loss

Question #2

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A dealer marks his goods 70% above cost and gives a discount of 40%. What is his profit percent?

A. 8%

B. 10%

C. 5%

D. 2%

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Correct Answer: Option D

Explanation:
Let CP = 100, MP = 170, SP = 170*0.6 = 102, profit = 2%.

This question belongs to: Maths Profit And Loss

Question #3

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A person bought an article and sold it at a loss of 10%. If he had bought it for 20% less and sold it for Rs. 55 more, he would have had a profit of 40%. The cost price of the article is:

A. Rs. 275

B. Rs. 225

C. Rs. 250

D. Rs. 200

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Correct Answer: Option C

Explanation:
Let original CP = 100x. SP = 90x. New CP = 80x. New SP = 90x + 55. Profit is 40% of 80x = 32x. New SP = 80x + 32x = 112x. 112x - 90x = 55. 22x = 55. x = 2.5. CP = 100 * 2.5 = Rs. 250.

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