If a shopkeeper sells an item at Rs. 360, he gains 20%. Find the cost price. MCQ with Answer and Explanation

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If a shopkeeper sells an item at Rs. 360, he gains 20%. Find the cost price.

A. Rs. 320

B. Rs. 280

C. Rs. 340

D. Rs. 300

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 360/1.2 = 300.

This question belongs to: Maths Profit And Loss

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Question #1

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The cost price of an article is Rs. 240. If it is sold at a loss of 12.5%, what is the selling price?

A. Rs. 215

B. Rs. 205

C. Rs. 220

D. Rs. 210

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Correct Answer: Option D

Explanation:
Loss = 12.5% of 240 = 30, SP = 240 - 30 = 210.

This question belongs to: Maths Profit And Loss

Question #2

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A man buys two items for a total of Rs. 3000. He sells one at a 20% profit and the other at a 10% loss. If he makes no overall profit or loss, what is the cost price of the first item?

A. Rs. 1000

B. Rs. 1200

C. Rs. 2000

D. Rs. 1500

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Correct Answer: Option A

Explanation:
Let Cost Price of first item = x. Cost Price of second = 3000 - x. Profit = 0.20x. Loss = 0.10(3000 - x). 0.20x = 300 - 0.10x. 0.30x = 300. x = 1000.

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Question #3

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A shopkeeper gives 1 article free on the purchase of every 4 articles. He also allows an additional discount of 20%. Find his total net discount percentage.

A. 44%

B. 45%

C. 40%

D. 36%

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Correct Answer: Option D

Explanation:
Customer gets 5 articles but pays for 4. Discount from free item = (1/5) * 100 = 20%. Two successive discounts of 20% and 20%. Equivalent discount = 20 + 20 - (400/100) = 36%.

This question belongs to: Maths Profit And Loss

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