If an article is sold at Rs. 320, there is a loss of 20%. What is its cost price? MCQ with Answer and Explanation

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If an article is sold at Rs. 320, there is a loss of 20%. What is its cost price?

A. Rs. 380

B. Rs. 360

C. Rs. 420

D. Rs. 400

Answer: Option D

Solution (By JKSSB Mock Tests)

CP = 320/0.8 = 400.

This question belongs to: Maths Profit And Loss

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Question #1

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Successive discounts of 30% and 10% are equivalent to a single discount of:

A. 37%

B. 42%

C. 40%

D. 45%

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Correct Answer: Option A

Explanation:
Equivalent discount = A + B - (AB/100) = 30 + 10 - (300/100) = 40 - 3 = 37%.

This question belongs to: Maths Profit And Loss

Question #2

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A trader buys a product for Rs. 750 and sells it for Rs. 900. What is the profit percentage?

A. 25%

B. 20%

C. 15%

D. 30%

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Correct Answer: Option B

Explanation:
Profit = 150, profit% = 150/750*100 = 20%.

This question belongs to: Maths Profit And Loss

Question #3

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If the selling price of an article is Rs. 306 and the loss is 15%, find the cost price.

A. Rs. 370

B. Rs. 350

C. Rs. 340

D. Rs. 360

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Correct Answer: Option D

Explanation:
SP = 85% of CP => CP = 306 / 0.85 = 360.

This question belongs to: Maths Profit And Loss

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