If an article is sold at Rs. 105, there is a profit of 5%. Find its cost price. MCQ with Answer and Explanation

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If an article is sold at Rs. 105, there is a profit of 5%. Find its cost price.

A. Rs. 110

B. Rs. 100

C. Rs. 98

D. Rs. 95

Answer: Option B

Solution (By JKSSB Mock Tests)

CP = 105/1.05 = 100.

This question belongs to: Maths Profit And Loss

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Question #1

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A man sold two articles for Rs. 1000 each. On one he gains 20% and on the other he loses 20%. What is his overall gain or loss percent?

A. No profit no loss

B. Gain 4%

C. Loss 2%

D. Loss 4%

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Correct Answer: Option D

Explanation:
CP of first = 1000/1.2 = 833.33; CP of second = 1000/0.8 = 1250; total CP = 2083.33; total SP = 2000; loss = 83.33; loss% = (83.33/2083.33)*100 = 4%.

This question belongs to: Maths Profit And Loss

Question #2

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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. 225

B. Rs. 250

C. Rs. 200

D. Rs. 275

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Correct Answer: Option B

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.

This question belongs to: Maths Profit And Loss