If an item is sold for Rs. 1020 at a loss of 15%, what was its cost price? MCQ with Answer and Explanation

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If an item is sold for Rs. 1020 at a loss of 15%, what was its cost price?

A. Rs. 1150

B. Rs. 1250

C. Rs. 1100

D. Rs. 1200

Answer: Option D

Solution (By JKSSB Mock Tests)

Selling Price = 1020. Loss = 15%. Cost Price = (1020 / 0.85) = 1200.

This question belongs to: Maths Profit And Loss

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Question #1

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If the marked price of an article is Rs. 800 and it is sold at a discount of 15%, what is the selling price?

A. Rs. 680

B. Rs. 640

C. Rs. 760

D. Rs. 720

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Correct Answer: Option A

Explanation:
SP = 800 * (1 - 0.15) = 800 * 0.85 = 680.

This question belongs to: Maths Profit And Loss

Question #2

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A dealer allows a discount of 30% on the marked price and still gains 20%. If the cost price is Rs. 700, find the marked price.

A. Rs. 1300

B. Rs. 1250

C. Rs. 1200

D. Rs. 1150

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Correct Answer: Option C

Explanation:
SP = 700*1.2 = 840. MP = 840 / 0.7 = 1200.

This question belongs to: Maths Profit And Loss

Question #3

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A person buys 5 kg of sugar at Rs. 35 per kg and sells at Rs. 42 per kg. What is the profit percentage?

A. 20%

B. 30%

C. 15%

D. 25%

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Correct Answer: Option A

Explanation:
CP = 5*35 = 175, SP = 5*42 = 210, profit = 35, profit% = 35/175*100 = 20%.

This question belongs to: Maths Profit And Loss

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